November 2021 lamb prices
According to IFA sheep committee chairman, Sean Dennehy, factories have pushed lamb prices up 40c/kg in the last week.
He reported that at this stage, plants are offering €7.40/kg, with deals on weights to 22.5/kgs and, in some cases, 23kgs. Furthermore, Dennehy said factories are also offering transport to secure some lambs.
Dennehy said higher deals are available for groups and larger lots. “The trade will continue to strengthen as supplies fall well short of market demand.”
He added that some plants are offering bonuses of 20c/kg for light lambs up to 15/kgs, “in an attempt to increase the throughput of lambs”.
“It’s a situation that is replicated in NI and GB with supplies well below last year’s levels and prices increasing strongly over the past week.”
“French lamb prices are also increasing. Industry experts expect this trend to continue as volumes of New Zealand lamb are not available in the marketplace due to supply and shipping issues,” he added.
Competition in marts
Besides, Dennehy said competition in marts is “intense” between butchers, wholesalers, factory agents and store finishers.
“This is providing farmers with a real competitive alternative to factories. This ensures the supply-demand balance remains firmly in farmers’ favour,” he added.
He reported that good quality store lambs are making €3.00 to €3.40/kg in marts, with ewe lambs suitable for breeding “coming in at the higher end.”. Furthermore, hill lambs and crossbreds are making up to €3/kg.
In the main, Cull ewes range from €3.10/kg to €3.30/kg in factories.
Dennehy advises farmers to “shop around, depending on their stock, to get the best deal and sell hard in a buoyant EU and UK lamb market where supplies are failing to meet demand”.