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Beef & Sheep Update 11th March

Cattle and Sheep in Wickow Field

Beef Update

IFA Livestock Chairman Brendan Golden said tight supplies and strong market demand have pushed cattle prices on in recent days. He said cattle numbers are extremely tight and factories are actively seeking cattle, with prices moving on 10c/kg. Steers are making €4.60kg to €4.80kg with heifers making €4.65kg to €4.85kg in some factories. There are higher deals for larger and specialised lots. 

Prices in our key export markets the UK and the EU are strengthening, highlighting the demand for beef in our main markets. The prime Irish composite price of €4.54/kg is now 3c/kg behind the prime export benchmark price of €4.57/kg. Brendan Golden said demand is strong and factories must reflect this favourable market situation with higher beef prices to farmers.

Beef Price Update 10/03/2022

Steer Base €4.60/4.80kg. Heifers €4.65/4.85kg. Higher deals and flat prices for larger and specialist lots. Y Bulls R/U €4.60/4.80Kg. Cows €3.90/4.50kg.

Supply Figures as Reported by DAFM  – Week 9  (28.02.2022)

AnimalNumberChange prev. wk.% of totalYTDYTD Change
Y Bulls2,864▼-59 7%32,583▲2,366
Bull531▼-27 1%4,229▲947
Steer12,438▼-370 32%107,436▲8,738
Veal-Z32▼-3 0%420▲10

Official Irish Prices as Reported by DAFM –  Week 9  (28.02.2022)

c/kg (Incl. VAT)U3Change prev wkR3Changeprev wkO3Changeprev wkP+3Changeprev wk
Y Bulls473▲11465▲11448▲20431▲7

Official GB Prices as Reported by AHDB

 SteersSteersHeifersHeifersY bullY bullCow
Change▲0▲0▲1▲2▼-4 ▲1▲7
Price in c/kg (Incl VAT)522.5522.7523.3525.7508.1507.8409.8

Euro Price for the Most Recent Week  (€/KG Deadweight excl. VAT)

Country & Type07.03.202006.03.202105.03.2022
EU + Y Bulls€ 3.63€ 3.73€ 4.80
IE + Steers€ 3.70€ 3.77€ 4.58
UK + Steers € 3.92€ 4.43€ 4.96

Live Exports W/C 28.02.2022

Source: Bord Bia

Sheep Update

IFA Sheep Chairman Kevin Comiskey said hogget prices have increased 20c/kg in the past week as factories compete for supplies. Factories are paying €7.00/kg to 7.20/kg for hoggets, with higher prices available to close out deals. The cull ewe trade has also improved, with prices ranging from €3.50/kg to €3.80/kg. He said strong factory demand is feeding through to mart sales where prices are comparable to and above what factories are paying in some cases. 

Cull ewes in particular are in very high demand. The IFA Sheep Chairman said demand for hoggets will strengthen in the coming weeks in the lead up to Ramadan and Easter. Combined with the strong market performance of lamb, this must be reflected in prices paid to farmers. Kevin Comiskey said farmers should bargain hard in this positive market environment while moving hoggets as they become fit.

Lamb Price Update 10/03/2022

Hogget/lamb €7.00/7.20/kg. Higher deals groups/larger lots. Ewes €3.50/3.90/kg. Sell hard.

Supply Figures as Reported by DAFM – Week 9 (28.02.2022)

AnimalFigureChangeYTD Change
Lambs/Hoggets48,036▼-245 415,162▲48,250
Spring Lambs0▲00▲0
Ewes and Rams4,495▼-364 51,077▲212
Light Lambs0▼-1 23▼-37 
TOTAL52,531▼-610 466,262▲48,425

Official Irish Prices as Reported by DAFM – Week 9  (28.02.2022)

c/kg (Incl. VAT)WK 9Change prev wk2021Changeprev yr
National Avg Price673.63▲2681.57▼-8 
YTD Avg676.27▼-0 613.53▲63

Official GB Prices as Reported by AHDB

 R3L Overall SQQ*Type of lamb
26.02.2022573.1570.9Old season
26.02.2022576.3574.4Old season
Price in c/kg (Incl VAT)724.5722.1 

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