2024 was a record year for Irish sheep farmers
Sheep Lamb Prices / Prices
Lamb producers benefited from a 17.4% increase in prices averaged over 2024, which has ended on a high note for the sheep farmers.
While poor grass growth during the first half of the year impacted heavily on producers finishing their lambs for market, good autumn growth of grass and the strong lamb prices during the final months of the year provided some recompense for breeders and finishers.
Analysis of the factory prices paid to producers during 2024 shows that the average 775c/kg — compared to 660c/kg average for 2023 — set a new record as the highest ever by a sizeable margin, marking the fourth consecutive season for strong average prices.
In 2022, the average was 650c/kg, and in 2021, producers received an average of 662c/kg. Over the prior decade, the best year was 2020 at an average of 524c/kg.
The throughput of lambs at the export factories last year, which stood at 2,116,878, was a reduction of 11.2% on 2023.
The continued depletion of the breeding flock, as many sheep farmers switch to other enterprises for more consistent returns, has contributed to the strength in demand and the higher prices.
The decline in production in the Republic of Ireland has also occurred in Northern Ireland, where the factory throughput for the year at 407,409 was down by 9.7% on 2023, and total sheep supplies in Britain declined by 13%.
The French market remained the strongest through the year, with the average lamb price at 935c/kg leading the market with an increase of 13.7% on 2023.
The second-highest price was in Britain, where the average price increased by 24.7% to 843c/kg. The average price in Northern Ireland strengthened by 20.15% to 766c/kg.
It was a more difficult year for lamb producers in New Zealand, where prices slipped by 5.5%, and producers received an average of 381c/kg.
