Lamb Prices This Week
According to the Livestock and Meat Commission (LMC), base quotes for R3 grade lambs fell by 35-40p/kg in factories this week.
In its weekly market outlook report, it indicated that quotes “came under the pressure” and, as a result, ranged from 595-600p/kg up to 21kgs.
The LMC expects quotes to “be back” early this week (week commencing Monday, July 4th, 2022).
As quotes ease back, the paid prices have also fallen.
Last week’s NI deadweight lamb price, as per the LMC’s market analysis, stood at 613.8p/kg, a drop of 35.5p/kg from the week prior to this.
While there has been downward movement in the deadweight lamb trade in the last week, prices “still continue to trend above previous years; however, the differential has narrowed”.
According to the LMC, last week’s deadweight lamb price in NI was 82.4p/kg above the corresponding week in 2021, equating to a £17.30 differential on a 21kg lamb carcase.
The body says Covid-19 restrictions will have “less of an impact” on the celebration of Eid-al-Adha from July 9th, 2022, this year.
It outlines that the festival has “helped to boost” the sheep meat trade in recent weeks.
Meanwhile, last week’s price stand at 164.2p/kg, above the same price in 2020 or £34.50 on a 21kg lamb carcase.
Furthermore, throughput has continued to increase in local plants in recent weeks.
This, the body states, is now starting to put “some downward pressure” on prices.
Lamb throughput in local plants last week totalled 9,320 head.
According to the LMC, this takes the total lamb throughput during the six weeks ending 25 June to 47,413 head.
This is an 8% decrease from the levels processed in the same period last year.
Sheep exports to ROI last week for direct slaughter amounted to 4,880 head, down 1,715 head from the previous week.
Other sheep-related farming news on That’s Farming: