"Farmers won't be panicked into selling lambs at lower prices, according to Sean Dennehy of the Irish Farmers' Association (IFA).

Speaking to Agriland about the recent cuts in lamb prices, Sean said that supplies of finished lambs remain tight and that factories' tactics of pulling prices won't panic farmers into moving them on in a rush.

He said: "The trade has eased off with prices back 40c/kg in the space of two weeks.

"Supplies of finished lambs are still tight. Factories attempted the same thing last year - pulling back prices, so I'd imagine if they don't get the stock at the lower prices this time around then they might increase again.

"We'll just have to see how it pans out but that's what you'd be hoping for anyway."#

Dennehy added: "Prices, currently, seem to be around the €5.90-6.10/kg mark for quality assured lambs - with producer groups getting a bit more.

Dennehy said that the weather is reasonably good and lambs are thriving and therefore farmers shouldn't feel pressured into selling.

"The advice is as always to sell as they become fit and not to panic and not sell under-finished lambs," Sean concluded.

Base quotes fell under the €6.00/kg mark across the board earlier this week.

From speaking to factories, the reason for prices weakening for both lambs and ewes as the week began was that the numbers coming on stream have been increasing of late.