Tight supply of Irish lamb is pushing the price up
Increase demand and tighter supplies of Irish lamb is going to drive the lamb trade this spring, believes IFA National Sheep Chairman Sean Dennehy. As Easter and Ramadan are getting closer the prices have started to grow and factories are looking to source quality lambs.
"Factories are paying €5.40 to €5.50/kg for quality lambs, with feeders holding out for €5.60/k. Ewes are making from €2.85/k to €3.00/kg", explained Sean Dennehy.
Supplies have already tightened considerably with the weekly kill for the first week of March dropping 20% on last year’s figures, to 37,626 head from 45,132 for the same week last year.
The IFA Sheep farmers leader said lamb prices were also rising in the UK with the deadweight price at £4.19/kg, which is equivalent to €5.14/kg including VAT. Dennehy expects that during the next 45 days agents and procurement managers will pay significantly over the quoted price to get stock.
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