Irish Sheep Trade & Prices w/e May 12th 2024
Irish Sheep Trade Prices – Week Ending 12 May 2024
The latest data confirms that Irish sheep trade prices May 2024 remain strong, supported by tight supplies and resilient demand. Base quotes for hoggets from major processors tightened this week, ranging between €9.30/kg and €9.40/kg, with the Quality Assurance (QA) bonus included. Small numbers of spring lambs also entered processing plants, with quotes of €9.55–€9.65/kg plus QA bonus.
Processors reported that the firm deadweight trade reflects limited availability of suitable hoggets. Spring lambs have been slow to appear, adding further pressure to supply. Across the UK, hogget throughput is currently 5% behind 2023 levels, with reports of ewe lambs once reserved for breeding now redirected into processing. According to EU forecasts, throughput is expected to decline by 2% in the first half of 2024, cutting around 580,000 head from the sheep kill.
Prices
For the week ending 12 May 2024, Irish reported lamb prices eased slightly to €9.05/kg, down 23c from the previous week. In the same period last year, prices were €7.51/kg, showing the scale of year-on-year improvement.
Across Great Britain, spring lamb averaged €10.57/kg (down 8c/kg), while Northern Ireland reported €9.21/kg (down 29c/kg). In the Southern Hemisphere, Australian prices held at €4.09/kg and New Zealand climbed to €3.52/kg, keeping their products competitive in EU markets despite added freight costs.
Throughput
In Ireland, DAFM-approved plants processed 41,258 sheep during the week ending May 12, 2024, slightly below the 2023 level. Year-to-date throughput stands at 920,033 head, a 10% decline. Hogget kill totalled 795,287 head (down 9%), while ewe and ram throughput fell by 12% to 88,932 head. Spring lamb processing is gradually increasing, with 35,749 head handled so far this year.
With supply tight and demand steady, Irish sheep trade prices May 2024 highlight strong returns for producers and an increasingly competitive international market.
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