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Factories are struggling to source supplies to meet demand, with last week’s throughput running over 18,000 lower, despite prices running €1.65/kg higher.
Last week’s kill was over 21,500 head lower than the corresponding period week in 2023, with over 40,000 fewer sheep slaughtered in the last fortnight compared with 2023.
An increasing number of lambs are trading from €7.70/kg to €7.80/kg, with higher prices and extra weight limits being negotiated at the top end of the market.
Throughput fell by 5,000 head last week, despite factory agents increasing purchasing activity, reflecting just how tight supplies of finished lambs are.
There has also been significant upward movement in the Spanish lamb prices in recent weeks with the latest sheep price dashboard recording an average farmgate price of €8.93/kg.
Greater competition between agents and tighter supplies has forced agents to pay more, with the two Irish Country Meats plants increasing their base quote by 10c/kg.
Reports from some agents point to fewer lambs coming on stream in recent days with many mart sales held over the weekend and on Monday recording a sharper trade.