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)
| Animal | Number | Change prev. wk. | % of total | YTD | YTD Change |
| Y Bulls | 2,864 | ▼-59 | 7% | 32,583 | ▲2,366 |
| Bull | 531 | ▼-27 | 1% | 4,229 | ▲947 |
| Steer | 12,438 | ▼-370 | 32% | 107,436 | ▲8,738 |
| Cow | 8,249 | ▲121 | 21% | 66,469 | ▲9,704 |
| Heifer | 10,729 | ▲321 | 28% | 95,012 | ▲5,411 |
| Veal-V | 3,970 | ▲156 | 10% | 12,978 | ▲1,737 |
| Veal-Z | 32 | ▼-3 | 0% | 420 | ▲10 |
| Total | 38,813 | ▲139 | 100% | 319,127 | ▲28,913 |
Official Irish Prices as Reported by DAFM – Week 9 (28.02.2022)
| c/kg (Incl. VAT) | U3 | Change prev wk | R3 | Changeprev wk | O3 | Changeprev wk | P+3 | Changeprev wk |
| Steers | 492 | ▲8 | 483 | ▲8 | 470 | ▲9 | 439 | ▲9 |
| Heifers | 500 | ▲9 | 488 | ▲9 | 479 | ▲8 | 432 | ▲10 |
| Y Bulls | 473 | ▲11 | 465 | ▲11 | 448 | ▲20 | 431 | ▲7 |
| Cows | 0 | ▲0 | 436 | ▲8 | 408 | ▲9 | 394 | ▲9 |
Official GB Prices as Reported by AHDB
| Steers | Steers | Heifers | Heifers | Y bull | Y bull | Cow | |
| p/kg | R3 | R4L | R3 | R4L | R3 | R4L | -O4L |
| 26.02.2022 | 415.5 | 415.4 | 415.1 | 415.9 | 407.9 | 403.3 | 318.8 |
| 26.02.2022 | 415.6 | 415.8 | 409.2 | 416.3 | 418.2 | 406.9 | 404.2 |
| Change | ▲0 | ▲0 | ▲1 | ▲2 | ▼-4 | ▲1 | ▲7 |
| Price in c/kg (Incl VAT) | 522.5 | 522.7 | 523.3 | 525.7 | 508.1 | 507.8 | 409.8 |
Euro Price for the Most Recent Week (€/KG Deadweight excl. VAT)
| Country & Type | 07.03.2020 | 06.03.2021 | 05.03.2022 |
| 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
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)
| Animal | Figure | Change | YTD | Change |
| Lambs/Hoggets | 48,036 | ▼-245 | 415,162 | ▲48,250 |
| Spring Lambs | 0 | ▲0 | 0 | ▲0 |
| Ewes and Rams | 4,495 | ▼-364 | 51,077 | ▲212 |
| Light Lambs | 0 | ▼-1 | 23 | ▼-37 |
| TOTAL | 52,531 | ▼-610 | 466,262 | ▲48,425 |
Official Irish Prices as Reported by DAFM – Week 9 (28.02.2022)
| c/kg (Incl. VAT) | WK 9 | Change prev wk | 2021 | Changeprev yr |
| National Avg Price | 673.63 | ▲2 | 681.57 | ▼-8 |
| YTD Avg | 676.27 | ▼-0 | 613.53 | ▲63 |
Official GB Prices as Reported by AHDB
| R3L | Overall SQQ* | Type of lamb | |
| 26.02.2022 | 573.1 | 570.9 | Old season |
| 26.02.2022 | 576.3 | 574.4 | Old season |
| Change | ▲3 | ▲4 | |
| Price in c/kg (Incl VAT) | 724.5 | 722.1 |
