Factories cut hogget quotes by 10-15c/kg
After a jump of up to 30c/kg last week for hoggets some factory bosses returned after their weekend break yesterday in a less than positive mood and slashed their quotes by 10-15c/kg.
The two plants in question are Kepak Athleague which tumbled its hogget quote by 15c/kg to €5.20+15c/kg, while Kildare Chilling shaved 10c/kg off its quote for hogget, leaving them on €5.40+10c/kg. That quote from Kildare leaves them just 10c/kg behind the all-in price at the head of our price table of €5.50/kg for hogget as offered yesterday by Moyvalley Meats.
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Kepak is joined on €5.20/kg for hoggets by Dawn Ballyhaunis, while ICM's twin plants at Camolin and Navan continue from last week at €5.30+10. Quotes for new season lamb remained unchanged with Moyvalley still out in front on €6.50/kg, closely followed by Kildare on €6.40+10c/kg QA. Next up are the two ICMs on €6.30+10c/kg QA, with both Dawn and Kepak bringing up the rear on €6.20/kg plus their various bonuses.
Quotes for cull ewes also continued unchanged with Kildare leading by 10c/kg at €2.90+10c/kg quality from the €2.80/kg from both Dawn and Kepak.
The two ICM plants round out the table for culls on €2.70/kg.
Numbers of lambs and hoggets at marts rose last week and reports from Athenry, New Ross and Raphoe yesterday indicated further strong sale numbers with prices steady.
The belief is that factories have been gradually getting their order books filled over the last month or so and with prices for lamb starting from such a low base - because of where they had managed to push hoggets - there is a belief among some that it will be difficult to get up to the magic €7.00/kg mark for lamb with yesterday's price cuts for hogget by both Kepak and Kildare adding fuel to that fire.
ICSA's Sean McNamara told me that the best of the prices on the ground see new lamb at €6.70-6.80/kg, with the best of the hoggets fit to get €5.70/kg.
"It is possible factories may have to give more as the week goes on but right now, they are doing their best to hold the price," Sean said. He added that he has a belief that lamb will rise post Easter as factories and exporters gear up for the Muslim festival of Ramadan. "If live export gets going properly for Ramadan that will put a lot of pressure on the factories," he concluded.
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