Lamb and hogget quotes stable but factories wary of UK competition
The best that can be said about last week’s lamb and hogget trade was that prices remained steady, a trend that has continued this week with quotes generally around the €4.60/kg plus bonuses mark.
The one bright spark is the price of cull ewes which yesterday morning moved up to €2.50/kg at Kepak Athleague.
Returning to lamb prices, the two ICM plants are quoting a base price of €4.50/kg plus a bonus of 10c/kg.
Dawn Ballyhauais and Moyvalley Meats are on €4.60/kg, with Kepak Athleague on €4.65/kg plus 5c/kg quality bonus, while the two ICM plants are on that €4.50/kg plus 10c/kg, and Kildare Chilling on €4.60/kg plus 10c/kg.
The line from the factories is that the trade is a mess with a lot of British lamb potentially available to go on the French market now that sterling has again begun to soften against the euro.
It stood at 0.88p to the euro yesterday morning having been 3-4p stronger at 84-85p two weeks ago.
Factory bosses are worried that continental buyers may start to use British lamb prices in a world of devalued sterling as the benchmark for all deals.
When I put it to one factory agent that factory-retailer relations entail more than just cheaper prices, he replied that French supermarkets view “Irish, British and anybody else’s lamb as just all foreign product”.