Irish Sheep Trade & Prices w/e April 13th 2024
Irish Sheep Trade Prices – Week Ending 13 April 2024
The latest figures show that Irish sheep trade prices April 2024 continue to rise. Major processors lifted base quotes for hoggets this week. Offers now range from 900c/kg to 930c/kg, including the Quality Assurance (QA) bonus. In addition, small volumes of spring lambs entered Irish plants, with 960c/kg plus QA bonus on offer.
The deadweight trade remains firm. Tight supplies of finished hoggets are driving prices upwards. Spring lambs are only beginning to come forward, which adds further pressure on the market.
The supply challenge extends beyond Ireland. In the UK, hogget throughput so far this year is five per cent lower than 2023. Reports indicate that many ewe lambs, once destined for breeding, are now moving into processing. Meanwhile, the EU supply forecast shows a two per cent decline in throughput for the first half of 2024. This reduction equals around 580,000 head fewer sheep. Therefore, supplies are expected to remain tight until the new season lamb crop becomes available in larger numbers.
Prices
Stronger demand ahead of Easter and Ramadan has combined with limited supply. As a result, the Irish deadweight trade has strengthened significantly in 2024. For the week ending 13 April 2024, reported prices rose to 877c/kg. That was a 7c increase on the previous week. In the same week of 2023, the average stood at 705c/kg.
In Great Britain, spring lamb prices reached 993c/kg, up 25c. In Northern Ireland, returns climbed to 870c/kg, an increase of 13c. However, Southern Hemisphere prices remain lower. Australian lamb averaged 398c/kg, while New Zealand reached 342c/kg. This keeps imports from both regions highly competitive in EU markets, even after freight costs.
Throughput
For the week ending 13 April 2024, DAFM-approved plants processed 45,971 sheep. That figure was slightly behind the same week in 2023. Year-to-date throughput now totals 770,908 head, which is five per cent lower than last year. Hogget kill reached 693,854 head, down three per cent. Meanwhile, ewe and ram throughput declined by 7% to 73,678 head. Only 3,323 spring lambs have been processed so far, though numbers are expected to increase in the coming weeks.
Overall, tight supply and firm demand continue to define Irish sheep trade prices April 2024, shaping the outlook for both domestic and export markets.