Lamb trade dives by up to 20c a kilo
The lamb trade reflects more of Galway's performance in the Leinster hurling final last Sunday than anything else.
If anything, the difference of a massive 12 points in Croke Park pales when compared to the 15-20c/kg difference in the lamb quotes over the last week. I dread to think what the trade would have been like if it wasn't for the increased activity with live exports over the past month. It is fair to say that the quotes would be under €5/kg. The notion of this in early July after such an expensive year will give farmers pause for thought as we move towards the breeding season.
At least the news on live exports is pretty positive with quite a sizeable amount being talked about for export next week. Prices being mentioned are somewhere around 2.45/kg liveweight.
As you will see from the table, the quotes have fallen to a range of 510-520c/kg base. Moyvalley's 520c/kg is an all-in quote and reflects a drop of 20c/kg over the past seven days. A 15c/kg drop in the two ICM plants and Dawn Ballyhaunis leaves them all on a base of 515c/kg plus 6c/kg bonus for U grades. Kepak Athleague's pull of 20c/kg and their sister plant's reduction of 15c/kg results in both offering a base quote of 510c/kg plus the bonus. Kildare Chilling were not quoting for lambs when contacted yesterday morning. Despite this, farmers are holding out strongly and securing higher prices and weights to 21.5kg.
An extra half kilo on a 21kg carcase adds another €2.70 or 13c/kg to a base price of €5.40/kg. That goes a long way to covering the 15-20c/kg drop to quotes referred to above. My advice is to bargain hard on price, but especially on weight.
The IFA's James Murphy said that the live export boat next week will have no weight restrictions on the lambs it takes. He added that factories were paying between 535-545c/kg for lambs.
Bord Bia reported prices of 585c/kg in France with the British price at 580c/kg.
Quotes and prices for cull ewes continue to firm with Dawn Ballyhaunis increasing their quote by 10c/kg to move up in line with the ICMs and Kildare on 200c/kg. Both Kepaks remain on a quote of 190c/kg. Moyvalley are not quoting. Prices of 220-230c/kg are rumoured to have been negotiated.