The sheep trade is steady, with supply and demand remaining finely balanced.

Spring lamb numbers are increasing slowly, with last week’s throughput up by over 2,000 head, but still running at just 5,605 head.

This remains 1,501 head behind the corresponding week in 2024, despite conditions being more favourable.

Hoggets continue to dominate throughput and at 31,725 head are running 3,955 higher than in 2024.

A couple of factories are moving to try to reduce hogget prices.

The two Irish Country Meats (ICM) plants in Camolin and Navan have reduced their base quote for hoggets for Thursday by 20c/kg to €8.30/kg plus their 20c/kg quality assurance (QA) payment.

There are still hoggets trading upwards of €8.70/kg to €8.80/kg, with the best demand for hoggets killing within the 23kg weight limit.

Some plants are discounting heavy hoggets in excess of 25kg to 27kg by up to €1/kg, with others threatening a maximum per-head payment.

Spring lamb prices are unchanged, with base quotes in all plants in the region of €9/kg, although the two ICM plants remain the only ones officially quoting at €9.20/kg for QA lambs.

Groups and regular sellers are securing returns of €9.30/kg, while, at the top end of the market, prices of €9.40/kg to €9.50/kg have been paid to suppliers with long trading relationships for early lamb. Carcase weight limits continue to range from 20.5kg to 21kg.

Ewes remain vibrant, with most factories opening negotiations in the region of €5.50/kg, but willing to pay €5.60/kg to €5.70/kg for quality ewes.

Abattoirs and plants specialising in the ewe trade, such as Ballon Meats, are paying upwards of €5.80/kg, with top prices rising to €6/kg.

As outlined below, the mart trade remains a better outlet for heavy carcase ewes.

British price

There are signs British prices could be turning a corner, with quotes steadying and increasing this week.

The latest Bord Bia sheep price dashboard shows British hogget prices of €8.05/kg running 60c/kg behind the average Irish price and almost €1.90/kg behind the peak prices in 2024.

The differential between British and Northern Ireland prices is running at 23c/kg. While on the topic, Irish prices are running 80c/kg behind the corresponding period in 2024.

NI sheep

Base quotes in factories in Northern Ireland (NI) are running in the region of £6.60/kg to £6.70/kg for hoggets (€7.75/kg to €7.87/kg), while spring lambs are in the region of £7.30/kg (€8.57/kg).

Supplies are also finely balanced with demand, although plants are trying to unsettle the hogget trade too.

Reports indicate buyers from Britain who were active in 2024 returned to mart sales in NI this week, which could indicate greater competition.