Surge in hogget prices as supplies dwindle
SHEEP farmers with hoggets or lambs for sale have been advised to bargain hard with the meat plants before selling, as demand is continuing to outstrip supply.
Demand at the marts for a diminishing supply of hoggets has been described as ‘red-hot’ with prices touching the €150 mark at some sales.
According to IFA National Sheep Chairman, Seán Dennehy, farmers have achieved prices of up to €6.20c at the factories, who are finding it extremely difficult to source supplies
“Supplies are extremely tight and there is a lot of competition between the plants looking for stock. Factories are chasing supplies and prepared to outbid each other to get stock,” he said.
Galway IFA Chairperson, Anne Mitchell, told the Farming Tribune that the advice to farmers selling hoggets was to ‘bargain hard’ at the factories who were paying ‘over and above’ the quoted prices.
“There is a very buoyant trade for hoggets at the moment and factories are finding it hard to source them. This is a seller’s market for hoggets at present and sheep farmers need to make the most of it,” said Anne Mitchell.
Over the course of the past fortnight there have been increases of up to 60c/kg in the factory prices for hoggets and with supplies dwindling by the day, this situation is likely to harden further.
For more, read this week's Connacht Tribune.