Irish Sheep Market Update
Hogget Prices Hold Steady Amid Tight Supply and Rising Export Demand
The Irish sheep market remains firm in early March 2025, with hogget prices stabilizing due to tight supply conditions and increased demand ahead of Ramadan. According to industry reports, base quotes from major processors are around €8.80/kg, including Quality Assurance (QA) bonuses, with some deals reaching €9.00/kg for hoggets meeting premium specifications.
Market Drivers: Ramadan Demand and Supply Constraints
The recovery in base quotes coincides with the seasonal surge in demand for sheepmeat in key export markets during Ramadan. This has led to:
- Stronger liveweight trade across marts
- Firm competition for suitable lots
- Reduced carcass weight limits by some processors (down 1kg to 23kg)
Supply Situation: National and EU Trends
The current market strength is underpinned by very tight sheep supplies, a trend mirrored across the UK and EU. Contributing factors include:
- Contraction in breeding flocks
- Adverse weather conditions in spring 2024
- Disease outbreaks affecting flock health
The total sheep kill in DAFM-approved plants reached 44,091 head last week, slightly up from the previous week. However, the year-to-date total of 302,541 head is 23% lower than the same period in 2024.
Price Trends: Domestic and International Comparisons
- Deadweight price (week ending Feb 23): Rose to €8.87/kg, continuing a three-week upward trend after early-year declines.
- Mainland GB lamb prices: Equivalent to €8.78/kg, up 1c/kg.
- Northern Ireland: Increased to €8.40/kg, up 12c/kg.
Southern Hemisphere prices remain below EU levels but are showing modest gains:
- Australia: €4.72/kg
- New Zealand: €4.46/kg
Conclusion
The Irish sheep trade is showing resilience in March 2025, with hogget prices stabilizing amid tight supply and seasonal export demand. As Ramadan approaches and global supply remains constrained, Irish producers are well-positioned to benefit from firm market conditions.
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