More pressure on sheep trade reported

The sheep trade faced further pressure this week as the increase in supplies evident over the past few weeks doesn’t appear to be showing any signs of slowing down, according to latest from Bord Bia.

“This combined with  export demand still only showing tentative signs of recovery has led to some reduction in quotes,” noted the Irish food board in its food alert published yesterday.

“Quotes for lamb were generally making between €4.50 – €4.60kg, with more available in places. Prices paid for culled ewes were generally making €1.90/kg which is in line with last week,” it noted.

In terms of weekly supplies for the week ending 24 August it said they were marginally higher compared to the same week in 2012 at 61,300 head. “To date this year, sheep supplies at meat export plants remain around 170,000 head higher at 1.53 million head.”

Bord Bia noted trade across the UK weakened throughout the week on the back of some increase in supplies being marketed. “By the weekend, new season lamb at live markets across England and Wales were making the equivalent of around €4.55/kg,” it said.

In France, Bord Bia noted trade has edged upwards in response to demand starting to build again as the holiday season starts to come to an end. “Prices for Irish Grade 1  lamb were making around €4.72/kg by the end of the week. Demand for product should be helped by some promotional activity that has been evident across the category over the past week,  this campaign is expected to run for another week.”

Ex Rungis Lamb Prices (covered lamb) 28th August, 2013 (€/kg)

Grade U, French 6.50, Imported 5.00: R, French 5.90, Imported 4.90; O, French 5.70, Imported 4.70