All plants quote the 500c/kg base
While probably not just as solid as the Irish scrum in Christchurch on Saturday morning, the lamb trade has nonetheless remained steady in the past week, with all plants quoting the 500c/kg base.
Kepak Hacketstown are bucking the trend, with their quote being for yesterday only. Kildare Chilling have the 5c/kg QA bonus on top of the U grade bonus of 6c/kg to leave them slightly ahead of the rest at 500c/kg plus 6c/kg plus 5c/kg. The ICM's and Dawn Ballyhaunis are offering 500c/kg plus 6c/kg, while Moyvalley are on an all-in quote of 500c/kg.
Sellers continue to bargain successfully for prices in excess of the €5/kg and are also negotiating weights over and above the 20.5kg. I did hear of 510c/kg to 21kg and 520c/kg to 20.5 kg being paid yesterday morning.
Commenting on the trade, the IFA's James Murphy said that lamb supplies remain tight with factories having to pay between 510-520c/kg to secure numbers with groups getting up to 530c/kg including bonuses. He added that weights are moving up to 21kg with some farmers getting up to 21.5kg. British prices are still substantially ahead of Irish prices.
As far as the hoggets are concerned it's a case of 'go west, young man' as the only plants quoting are Kepak Athleague and Dawn Ballyhaunis where the quotes are 400c/kg and 380c/kg respectively.
Cull ewe quotes have improved by 5c/kg at both ICM plants. They join those of Dawn and Kepak Hacketstown on 230c/kg. Kepak Athleague and Kildare Chilling are on an unchanged 220c/kg.
Bord Bia said the trade had lifted in response to tightening supplies combined with decent demand across key markets.
Irish lamb exports continue to be helped by the favourable exchange rate movement which is boosting the competitiveness of Irish lamb relative to British competition on export markets.