Ringside: Prices rebound as harsh weather slows supplies to factories
A week can make quite a difference. Just ask the Galway hurling fraternity but it also appears to have made a positive change to the sheep trade with a good bit more bite yesterday morning compared with last week.
The harsh weather conditions over the past few weeks has resulted in a tightening of fit lambs and factory agents were pretty active trying to tie down adequate supplies over the past few days.
A stabilisation of prices after the falls is welcome, but even more welcome is the fact that prices up to and over €5.60/kg are being secured. This is a lot more than the €5.20/kg plus the bonuses.
Unusually, Kildare Chilling are not quoting for the lambs or hoggets while, as usual, there are blanks everywhere for Dawn Ballyhaunis.
This leaves the two ICM plants with their €5.20/kg base plus 10c/kg for quality assured (QA) lambs. Kepak Athleague is also on a €5.20/kg base with a bonus of 6c/kg for QA lambs, while Moyvalley Meats' €5.20/kg is an all-in figure.
IFA sheep chairman, John Lynskey said factories are paying up to 20c/kg above quotes and to 21kg to secure numbers against more active live exporters.
The few hoggets still in the system are more of a nuisance than anything at this stage, with quality all over the place. So it is no surprise that only a few of the factories gave quotes ranging from €4.00-4.60/kg plus the QA top-up.
Bord Bia described the export trade as mixed, but it hopes that the upcoming Ramadan festival on June 18 will help.