Sheep producers are trading into a more challenging market this week. Quotes for Thursday in the main export plants have reduced 5c/kg to 10c/kg on last week’s level.
Kildare Chilling’s quote has eased 5c/kg, but the plant remains top of the quotes table with its base quote of €4.50/kg and 10c/kg quality assurance (QA) bonus.
The two Irish Country Meats plants in Navan and Camolin have reduced 10c/kg to a base of €4.40/kg and 10c/kg QA.
Processing in Kepak is getting back close to normal levels and the plant are offering a base of €4.40/kg plus 15c/kg QA bonus.
Moyvalley Meats remains at last week’s level of €4.50/kg.
Prices paid to sellers trading on an individual basis range on average from €4.55/kg to €4.60/kg, with the majority of plants now paying to 21.5kg carcase weight.
Sellers with greater negotiating power are, in some cases, securing an extra 5c/kg or a contribution towards transport where applicable, while a small number of producers are securing a higher carcase weight limit of 22kg.
Some groups have also moved to 22kg carcase weight as of 1 October. The cut in base price has reduced prices paid to groups, but, depending on the deal in place, returns are rising to €4.70/kg with 5c/kg to 10c/kg higher secured by some for U grading lambs satisfying tight specifications.
Some factories highlight higher numbers in the market and a sluggish trading environment as contributing to the cut in price. Last week’s kill increased 1,263 head to reach 66,643, with a number of plants still working through a beef protest-related lamb backlog.
Prices in the UK are reported as steadying, which is vital given the volume of lamb reported as being exported on to the EU market and the strong price competitiveness at which lamb is being offered compared to Irish exports.
The latest price report shows R grading lambs averaging £3.70/kg or €4.16/kg at Wednesday’s sterling exchange rate of 88.9p to the euro.
NI trade
The trade in Northern Ireland has eased midweek, with plants cutting base quotes by 5p/kg. This puts quotes on average around the £3.40 to £3.45/kg mark (€4.02/kg to €4.08/kg VAT inclusive), which represents a fall of 35p/kg (39c/kg) on the corresponding period in 2018.
Sheep throughput continues to be limited by the cattle kill exceeding 10,000 head for a second consecutive week.
The number of sheep exported to southern plants for direct slaughter, at 8,943 head, was similar to the previous week.
Total numbers exported year to date are 36,238 head lower, while the number of sheep exported to farms in the south in the last three months was recorded at 6,645 head compared to 15,825 in 2018.
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Sheep producers are trading into a more challenging market this week. Quotes for Thursday in the main export plants have reduced 5c/kg to 10c/kg on last week’s level.
Kildare Chilling’s quote has eased 5c/kg, but the plant remains top of the quotes table with its base quote of €4.50/kg and 10c/kg quality assurance (QA) bonus.
The two Irish Country Meats plants in Navan and Camolin have reduced 10c/kg to a base of €4.40/kg and 10c/kg QA.
Processing in Kepak is getting back close to normal levels and the plant are offering a base of €4.40/kg plus 15c/kg QA bonus.
Moyvalley Meats remains at last week’s level of €4.50/kg.
Prices paid to sellers trading on an individual basis range on average from €4.55/kg to €4.60/kg, with the majority of plants now paying to 21.5kg carcase weight.
Sellers with greater negotiating power are, in some cases, securing an extra 5c/kg or a contribution towards transport where applicable, while a small number of producers are securing a higher carcase weight limit of 22kg.
Some groups have also moved to 22kg carcase weight as of 1 October. The cut in base price has reduced prices paid to groups, but, depending on the deal in place, returns are rising to €4.70/kg with 5c/kg to 10c/kg higher secured by some for U grading lambs satisfying tight specifications.
Some factories highlight higher numbers in the market and a sluggish trading environment as contributing to the cut in price. Last week’s kill increased 1,263 head to reach 66,643, with a number of plants still working through a beef protest-related lamb backlog.
Prices in the UK are reported as steadying, which is vital given the volume of lamb reported as being exported on to the EU market and the strong price competitiveness at which lamb is being offered compared to Irish exports.
The latest price report shows R grading lambs averaging £3.70/kg or €4.16/kg at Wednesday’s sterling exchange rate of 88.9p to the euro.
NI trade
The trade in Northern Ireland has eased midweek, with plants cutting base quotes by 5p/kg. This puts quotes on average around the £3.40 to £3.45/kg mark (€4.02/kg to €4.08/kg VAT inclusive), which represents a fall of 35p/kg (39c/kg) on the corresponding period in 2018.
Sheep throughput continues to be limited by the cattle kill exceeding 10,000 head for a second consecutive week.
The number of sheep exported to southern plants for direct slaughter, at 8,943 head, was similar to the previous week.
Total numbers exported year to date are 36,238 head lower, while the number of sheep exported to farms in the south in the last three months was recorded at 6,645 head compared to 15,825 in 2018.
Read more
Storm Lorenzo: up to 50mm of rain and gusts of 130km/h
Three candidates nominated for IFA president
Slightly increased price pressure at the marts in recent days
NI trends: beef prices holding steady as plants cut lamb quotes
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