Sheep Trade & Prices

Quotes: Base quotes for lambs have steadied this week with base quotes now in the region of €7.60-7.70 (plus QA bonus) with most major plants paying to an upper carcase weight limit of 22kg. Reports have indicated that increasing availability of lambs for processing in the UK and in some of main export markets are having an impact on customer demand for Irish lamb. 

Prices: The reported deadweight price for week ending 4 October increased to €7.48/kg. The price remains ahead of the corresponding week last year when the reported deadweight price was €7.17/kg. The deadweight trade in GB had come under pressure in the last few weeks in response to increased lamb availability putting some downward pressure on the trade. Reported prices were back by the equivalent of 3c/kg to €7.78/kg. The trade in Northern Ireland has also decreased marginally with a reported price last week of €7.20/kg

Looking at the Southern Hemisphere, the trade has softened in Australia, with the heavy lamb price back by 15c/kg to the equivalent of €6.32/kg last week. A bank holiday and reduced throughput as a result contributed to this decline however the general trade remains firm with reports indicating a balance in supply/demand in the market. Meanwhile the New Zealand lamb price decreased marginally to €5.22/kg. Tighter supplies of sheep for processing in both regions and firm export demand have contributing to trade improvements over the last few weeks/months that have significantly narrowed the proce differential with European markets. 

Throughput: Total sheep throughput in DAFM approved plants decreased to 41,468 head with weekly throughput continuing to trend behind the corresponding period last year. Current YTD throughput is down 20% on 2024 levels with declines in numbers across all categories of sheep contributing to this trend. Tight supplies of lambs for processing is not confined to Ireland however with the latest available population data from both the UK and Europe indicating contracting flocks and reduced output from the 2025 lambing season. This may create opportunity for Irish lamb but also leaves the EU market very attractive to competitively priced imports.