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Market update - what’s influencing trends this year to date

Seamus McMenamin, sheep meat sector manager with Bord Bia, joins Ciarán Lynch on this week’s OviCast to discuss the market situation so far this year.

Seamus starts by discussing the trade in the year to date and the impact of tighter lamb supply on price.

They discuss how that has impacted the export market – and despite lower volumes the value of exports has gone up this year reflective of a higher global demand for sheep meat.

Seamus explains how the trend in lamb supply week on week is lower than last year to date relative to previous years before discussing the increased demand from EU markets and how the UK sectors supply into the EU has influenced this and the potential for Irish lamb to increase its market share.

Seamus then highlights how the opening up of food service may impact demand in the market and what to expect for the summer period with the upcoming EID festival in July.

Finally, he discusses the live export trade this year to date.

For more episodes from the OviCast podcast, visit the show page at: www.teagasc.ie/ovicastpodcast