There's a little less to be cheerful about at the start of this week in terms of lamb prices as we approach Christmas, with prices taking a hit.

Factories have moved to ease prices by 20c/kg since last week for lambs - with supplies in recent weeks witnessing an increase, which is now giving factories an advantage when it comes to negotiating on price.

Last week prices were hitting highs of €7.40-7.50/kg last week but this week, this is now back to €7.30/kg.

Factories were once again staying quiet this week, with no meat processing plant offering a quote for lambs or ewes.

In saying this, reports indicate the majority of lambs to be moving between €7.00/kg and €7.20/kg with top deals ranging between €7.20/kg to €7.30/kg.

Speaking to Agriland about the sheep trade at present, Sean McNamara, the sheep chair of the Irish Cattle and Sheep Farmers' Association (ICSA) said that prices have taken a turn ahead of the Christmas period.

He said: "Factories have pulled prices by 20c/kg. Prices at the top end of the market are now hitting €7.20-7.30/kg.

"Supplies of finished lambs have crept up in recent weeks and this is favouring factories. In saying that, prices are still at a strong level."