Irish Sheep Trade & Prices w/e April 28th 2024
The latest figures show that Irish sheep trade prices April 2024 remain firm as supplies tighten. Major processors increased base quotes for hoggets this week. Offers ranged from €9.20/kg to €9.40/kg, including the Quality Assurance (QA) bonus. In addition, small numbers of spring lambs entered Irish processing plants, with €10/kg plus QA bonus available.
The deadweight trade continues to strengthen. Tighter supplies of suitable hoggets are driving demand, while spring lambs have been slower to reach the market. As a result, competition remains strong across all processing plants.
The supply situation is not limited to Ireland. In the UK, hogget throughput has fallen 5% behind 2023 levels. Reports suggest many ewe lambs originally held back for breeding are now being processed instead. Meanwhile, EU forecasts show a 2% decline in throughput for the first half of 2024. This represents a reduction of 580,000 head in the European sheep kill. Consequently, traders expect tighter supplies until the 2024 lamb crop arrives in significant numbers.
Prices
For the week ending 28 April 2024, Irish reported prices for lamb increased to €9.43/kg. That figure marks a 23c rise compared with the previous week. In the same week of 2023, prices averaged €7.32/kg.
The UK trade also performed well. In mainland GB, spring lamb returned €9.92/kg, up 8c. In Northern Ireland, prices improved to €9.60/kg, a rise of 27c. Southern Hemisphere products remain more affordable. Australian lamb stood at €4.14/kg, while New Zealand recorded €3.42/kg, keeping them competitive in EU markets even with shipping costs.
Throughput
DAFM-approved Irish plants processed 34,712 sheep for the week ending 28 April 2024. That was slightly lower than the same week last year. Year-to-date throughput reached 840,150 head, down 10% from 2023. Hogget kill accounted for 750,662 head, which is 8% behind last year. Ewe and ram throughput fell by 10% to 81,026 head, while 7,327 spring lambs have been processed so far this season.
Overall, tight supplies and firm demand are keeping Irish sheep trade prices April 2024 at strong levels, with limited availability shaping both domestic and export markets.
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