Sheep Trade Update: Factories Boost Prices for Hoggets
In the ever-evolving world of sheep farming, recent weeks have brought a welcome surge in hogget prices, offering a glimmer of optimism for farmers across Ireland. With factories delivering a substantial 30c/kg boost since last week, the trade for hoggets is on an upward trajectory, signaling positive trends in the market.
While the arrival of spring lambs in factories remains relatively modest, farmers with factory-fit hoggets are closely monitoring the rising prices with keen interest. Just a month ago, base quotes for hoggets hovered around the range of €7.35/kg to €7.50/kg, with quality-assured (QA) hoggets fetching slightly higher prices of €7.50/kg to €7.60/kg.
Fast forward to the present, and the landscape has shifted significantly. Base quotes for hoggets now command prices ranging from €8.50/kg to €8.60/kg, while QA hoggets are fetching even higher rates, climbing up to €8.70/kg. The increase in prices underscores the growing demand for quality produce and reflects positively on the resilience of the sheep farming sector.
For farmers with spring lambs, the outlook is equally promising. Irish Country Meats (ICM) is quoting €9/kg plus a 20c/kg QA bonus for spring lambs weighing up to 20.5kgs, amounting to a total of €9.20/kg. While the numbers of spring lambs in the market are still relatively low, the anticipation is palpable as farmers await the arrival of the main crop in the coming weeks.
James Smyth, General Manager of ICM, noted that while the initial batch of spring lambs showed promising quality, farmers should aim to bring in lambs weighing at least 18kgs to maximize their returns. With other outlets offering competitive prices of €9.35/kg plus a 15c/kg QA bonus for spring lambs up to 20.5kgs, the market is ripe with opportunities for those involved in sheep production.
In addition to hoggets and lambs, ewe prices have also seen a notable uptick. Kildare Chilling is offering €8.60/kg plus a 10c QA bonus for hoggets/lambs weighing up to 23kg, totaling €8.70/kg—a significant increase of 30c/kg from the previous week. Meanwhile, ICM has upped its hogget price by 30c/kg, reaching a base price of €8.50/kg, with an additional 20c/kg QA bonus, amounting to €8.70/kg.
In the realm of ewe prices, Kildare Chilling has adjusted its rates to €3.40/kg plus a 10c QA bonus for ewes weighing between 23kg and 35kg, offering a total of €3.50/kg. The upward trend in prices reflects a positive sentiment within the industry and underscores the resilience of sheep farmers amidst evolving market dynamics. As the sheep trade continues to evolve, stakeholders remain cautiously optimistic about the future outlook, buoyed by recent positive developments in the market.
