Farm Ireland

Monday 19 February 2018

Scarce supplies push up hogget prices by €17/hd

Joe Healy

Seeing the hogget quotes increase by up to 30c/kg is every bit as good as watching the Galway hurlers score four goals and beat Kilkenny last Sunday -- even if it is only March. But what's seldom, they say, is wonderful.

When compared to this week last year, the quotes are anything from 55-75c/kg better at the moment, or as much as €17/hogget.

Top of the pile today is Moyvalley Meats, where a 30c/kg jump leaves the plant on an all-in quote of 540c/kg.

Kildare is next with its base of 520c/kg, plus the quality assurance 5c/kg on top of the normal 6c/kg, leaving it on a total quote for suitable stock of 531c/kg.

Thereafter, a base of 520c/kg, plus the bonus, is on offer from all the other plants. Supplies continue to be scarce, with finishers bargaining hard on both price and weight. Some are getting paid up to 24kg.

The IFA's James Murphy said that prices of up to 560c/kg are being paid and added that, as regards new-season lamb, the current quote of €6/kg is at least 40-50c/kg too low.

The plants that are quoting for this season's lamb are all on €6/kg, with 19kg the cut-off point.

This translates into a price of €114 which, in the current climate, is poor when compared to the present top hoggets are making €20 more than this.

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The mart trade is currently much better than the factory for young lambs. Kildare's €3/kg is tops for the cull ewes. The ICMs, Dawn Ballyhaunis and Kepak Hacketstown are quoting 290c/kg, while 280c/kg is on offer from Kepak Athleague.

Bord Bia reported that the sheep trade continued to benefit from tight Irish and British supplies, combined with some improvement in demand.

The British trade has strengthened further in response to tight supplies, despite sterling improving against the euro. The live market prices made the equivalent of €5.25/kg deadweight, including VAT, by the weekend.

In France, demand is being matched by supplies. Volumes of both Irish and British product remain tight. Irish grade one lamb delivered to Paris averaged €5.58/kg inclusive of VAT for most of the week.

Indo Farming