The sheep trade eased further during the week as the ongoing increase in spring lamb supplies and a more sluggish market demand affected trade.
Quotes for spring lambs were generally in the range €6.20-6.40/kg although more continues to be reported to be available. There was little change to report in the cull ewe trade with quotes typically making between around €2.90/kg.
Weekly sheep supplies for the week ending the 14th May were up by almost 4,000 on the same week in 2010 at 35,500 head.
In the UK, the spring lamb trade has slowed down in response to a strong increase ins upplies over the last week. By the weekend live market prices stood at the equivalent of €6.69/kg for new season lambs.
In France, the market weakened during the week as strong supplies from the UK and a lesser extent Ireland met a slower demand. Towards the end of the week prices for Irish grade 1 Spring lamb were reported to be making between €6.00 and €6.20/kg.
Ex Rungis Lamb Prices (covered lamb) 11th May, 2011 (€/kg)
Grade U, French 7.40, Imported 6.65: R, French 6.50, Imported 6.35; O, French 6.30, Imported 6.05