Beef Update
IFA Livestock Chairman Brendan Golden said beef prices have risen a further 5c/kg this week.
He said demand is strong and numbers are extremely tight as demand from the food service sector improves throughout the EU. “Young Bull prices have strengthened over the past week, reflecting the stronger EU market for beef. Cattle supplies are predicted to be extremely tight over the coming months and as the seasonal summer
demand increases the volume of sales, factories must maximise returns to farmers in favourable market conditions,” he said. He said last week’s kill was 28,804. With the steer and heifer kill back 1,164 and 684, respectively, it
highlights the extremely tight supplies of prime cattle available to factories.
Sheep Update
IFA Sheep Chairman Sean Dennehy said the current price cutting by factories of lamb prices is unnecessary and must stop. Factories are paying €6.50 to €6.70/kg today for lambs, which leaves Irish lamb very competitive in our key markets. “The EID al-Adha festival, which runs from the 19th to the 23rd July, will increase demand for lamb and factories will be anxious to secure supplies to fill these orders over the coming weeks,” he said. “Following this boost to the market, breeding sales and store buying will be starting and will add competition and help underpin the trade,” he said. Sean Dennehy said weekly supplies of spring lamb remain below last year’s levels, with last week’s kill recording 6,500 fewer lambs than the corresponding week in 2020. Demand is extremely strong for cull ewes with factories paying up to €3.60/kg. The IFA Sheep Chairman said factories must stand firm in the market place and stop the unnecessary price cutting.
