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The hogget trade has recovered this week, with factory prices rising 50p to 450p/kg, making animals worth £99 at the 22kg carcase limit.
Behind the price increase is a significant drop in the availability of slaughter-fit hoggets across the UK. Prices have also hardened in Britain, with quotes broadly in line with NI plants, while tighter supplies south of the border have also helped steady the trade.
The price rise will be welcomed by farmers after markets went into freefall over the past three weeks
Spring lambs have also increased by 50p/kg with 480p/kg on offer. However, with supplies extremely limited and the Easter market underpinning demand in the short term, some farmers report that 490p/kg has been paid.
The price rise will be welcomed by farmers after markets went into freefall over the past three weeks with the closure of the foodservice sector and key export markets.
In the run-up to last Easter, spring lambs were making 510p/kg
During that period, hoggets fell from 490p/kg to 400p/kg last week. At this week’s price of 450p/kg, hoggets are 10p/kg below the equivalent week last year. In the run-up to last Easter, spring lambs were making 510p/kg.
The beef trade is currently in crisis as factory quotes on prime cattle fall below the 320p/kg barrier. Several plants are working to a 318p/kg quote (the lowest base quote in NI since June 2016), with others on 320p/kg.
Farmers selling cattle report that cattle agents are showing little flexibility on price.
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