Dip in supply puts up lamb prices as the big chill bites
Wikileaks -- the whistleblowing website -- over the weekend exposed several documents and stories that are deeply embarrassing to many governments around the world.
Closer to home, we have had our own pessimistic stories -- but the leaks and stories for the sheep farmers are quite optimistic.
One factory source said that if the weather continues into next week, quotes and prices will more than likely be forced upwards to entice farmers out with their lambs and especially those that bought store lambs earlier on. When a potential quote of €5/kg was put to him, he didn't answer but he didn't hang up either!
Scarce supplies due to the extreme weather have led to a significant increase to the quotes, for farmers selling at the moment.
A jump of 20c/kg from last Tuesday leaves Moyvalley up at an all-in quote of 460c/kg. When all bonuses are taken in to account, Kildare Chilling are on a total quote of 461c/kg, reflecting an increase of 15c/kg to their base.
Improvements of 5-15c/kg are evident from the ICM and Kepak plants and this leaves them all quoting 450c/kg plus the bonus for the U grades. Dawn Ballyhaunis became the first victims of the freezing conditions and were not killing when contacted yesterday and, unsure of what lay ahead, were not in a position to quote.
Commenting on the quotes, IFA's James Murphy said that despite the increase, factories were still willing to and having to pay well above those figures, with prices of 470c/kg being successfully bargained for this week.