IFA National Sheep Chairman John Lynskey has said lamb prices are rising as supplies are very scarce this week and factories are finding it very difficult to get adequate numbers.
He said factories are having to increase Lamb prices from their quotes of €5.15 to €5.20/kg and deals are being done at €5.25, with finishers holding out for more. The IFA sheep farmer leader said ewes are making €3.00/3.20/kg with good demand.
John Lynskey said, with hogget numbers very tight and no availability of spring lamb, the market should improve over the next number of weeks. He said demand will be strong, driven by Easter and the Ramadan Muslim festival.
John Lynskey said early lamb producers need a price in the order of €7.00/kg in order to cover costs and leave a reasonable margin.
IFA National Livestock Chairman Angus Woods said cattle prices are on the up this week and factories are finding it very hard to get numbers with tighter supplies.
Angus Woods said factories are having to pay 5-10c/kg above quoted prices in order to get stock. In addition, he said the quoted prices have increased all round.
Angus Woods said factories are now paying a base price of €3.90/3.95/kg for steers and €4.00/4.05 for heifers. He said there are some reports of a base price of €4.10 being offered for quality heifers.
The IFA livestock leader said R and U grade bulls are making €4.00/kg. On cows, he said there is a significant jump in prices with P grade cows making up to €3.30/kg.