Price slippages could be first sign of turning point ahead
While the election counts over the weekend threw up a mixture of good and bad results for the candidates, it is a similar story with the sheep quotes for farmers.
If anything, this is probably too positive an overview. Even though a quick glance at the table might show not much change, on closer examination you will see that Dawn Ballyhaunis were not in a position to quote when contacted yesterday morning, Kepak Athleague's quote was for yesterday only and Moyvalley are back by 10c/kg.
None of these three signs are good and generally point to a sluggish week ahead, but, having said that, factories were anxious for stock over the weekend and lambs were being killed yesterday at up to 620c/kg.
Kildare remain top of the pile with their unchanged base quote of 595c/kg plus their 5c/kg quality assurance (QA) bonus on top of the 5c/kg for U grades. The ICM plants are also unchanged at 590c/kg plus 10c/kg for QA lambs.
Kepak's base for yesterday was also 590c/kg and they are paying a 6c/kg QA bonus. Moyvalley were offering an all-in quote of 590c/kg, which reflected a drop of 10c/kg since last Tuesday.
The hoggets are almost at an end, with some plants only reporting a trickle of them at the moment.
Kildare are offering a base quote of 540c/kg plus the two 5c/kg top-ups. Meanwhile, Kepak are down 10c/kg at 530c/kg plus 6c/kg QA.
Commenting on the trade, the IFA's John Lynskey said that farmers were securing prices of 615-620c/kg for lambs and 570-580c/kg for hoggets.