Hogget quotes up 35c/kg due to domestic demand
While the hogget trade resembles Ireland's soccer result at the weekend, the lamb trade is closer to the lacklustre performance that got us there. However, beggars can't be choosers and I suppose we should be thankful for results wherever we get them.
Quotes and prices for hoggets continue to be positive, with an increase in quotes of 15-35c/kg over the course of the week. Moyvalley has upped its figure by 30c/kg to an all-in quote of 580c/kg and this keeps the plant at the top. A 35c/kg increase in Kildare Chilling brings it up to a base of 565c/kg plus 6c/kg plus 5c/kg quality assurance. Thereafter, the rest are up by 15-20c/kg and offering 550c/kg plus the bonus.
Improvements to the new-season lamb are less significant, with the ICM plants, Moyvalley and Kildare slightly above the 600c/kg mark. Three of those mentioned are quoting a base of 610c/kg plus 6c/kg. Moyvalley is on an all-in 610c/kg, while both Kepaks and Dawn Ballyhaunis remain on 600c/kg plus the bonus.
Commenting on the hogget trade, the IFA's James Murphy said that strong domestic and French market demand have driven prices up around the country, with some plants having paid as high as 590c/kg to secure supplies.
There is no let-up to the cull ewe trade either. A 30c/kg rise in Kildare sees the plant on a quote of 330c/kg this week. The ICM plants have increased by 20c/kg to 310c/kg, while a 10c/kg jump in Dawn brings it up to join both Kepak plants on 300c/kg.
Bord Bia reported that the sheep trade continued to improve over the past week, in response to ongoing tight supplies, both domestically and on export markets.
Quotes for hoggets increased by around 10c to €5.40/kg last week, while quotes for the limited numbers of spring lambs available were generally around €6/kg. Elsewhere, strong manufacturing demand continued to maintain the cull ewe trade, with quotes freely available at €2.90/kg.
In Britain, despite the ongoing strengthening of sterling against the euro, the hogget trade improved further as supplies remained tight. The livemarket prices made the equivalent of €5.45/kg deadweight including VAT by the weekend. The first spring lambs emerging on the market sold for €5.80/kg.
In France, demand for lamb was steady. This, combined with tight supplies of Irish and British product, helped improve prices of Irish grade 1 lamb delivered to Paris by around 10c/kg, to €6/kg, for most of the week inclusive of VAT.
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