Beef & Sheep UpdateCattleCattle PricesSheepSheep Prices

Beef & Sheep Update 11th May

Cattle and Sheep in Wicklow field

IFA Livestock chair Declan Hanrahan said the gamesmanship by factories on beef price is unacceptable and must stop. He said market conditions are favourable, with no justification for the negative propaganda coming from factories and their agents. “Farmers should reject the unfounded negativity on beef price. Demand is strong and will only increase as supplies tighten here and in our key markets. Despite attempting to offer lower quotes, when pushed factories are freely paying an extra 10 to 15c/kg to secure cattle to fill lucrative contracts,” he said. Supplies of beef in the UK and EU are tight, contributing to beef prices in these destinations remaining steady and strong. This provides real opportunity for factories to maximise returns to farmers. The Prime EU Benchmark Price compiled by Bord Bia has increased by 10c/kg over the past two weeks, clearly highlighting the demand for beef in this key destination. The IFA Livestock chair said the UK market continues to perform strongly with prices over 50c/kg above ours.

Beef Price Update 10/05/2024

Base Quotes Steer €5.15/5.30kg. Heifers €5.20/5.35kg. Higher deals and flat prices for larger and specialist lots. Y Bulls R/U €5.25/5.50Kg. Cows €4.30/5.00kg.

Supply Figures as Reported by DAFM – WK 18 (05.05.2024)

AnimalNumberChange prev wk% of totalYTDYTD Change
Y Bulls1,822▲1196%43,315▼-1,894 
Bull624▼-48 2%8,644▼-204 
Cow7,543▼-476 23%153,750▲19,047
Heifer9,429▼-478 29%184,540▲9,695
Veal-V460▼-420 1%17,578▼-12,797 
Veal-Z23▼-9 0%901▲82
Total32,975▼-841 100%629,406▲3,665

Official Irish Prices as Reported by DAFM – WK 18 (05.05.2024)

c/kg (Incl. VAT)U3Change prev wkR3Change prev wkO3Change prev wkP+3Change prev wk
Heifers565▲1551▲0541▼-1 493▲1
Y Bulls547▲2533▲1514▼-3 500▼-5 

Official GB Prices as Reported by AHDB

 SteersSteersHeifersHeifersY bullY bullCow
Change▼-1 ▲1▼-0 ▼-0 ▼-4 ▼-2 ▲1
Price in c/kg (Incl VAT)605.1608.9604.3607.7589.0591.4470.0

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

Country & Type23.04.202222.04.202327.04.2024
EU + Y Bulls€ 5.13€ 5.04€ 5.02
IE + Steers€ 4.85€ 5.27€ 5.21
UK + Steers € 5.26€ 5.64€ 5.70

Live Cattle Exports W/C 22.04.2024

Source: Bord Bia

Sheep Update

IFA Sheep Chairman Adrian Gallagher said hogget prices remain steady and as numbers continue to tighten demand from factories for spring lamb will increase further. He said hogget’s are trading between €9.20kg and 9.50kg with factories offering deals on weights to 24kg. Spring lamb prices are ranging from €9.50kg to €9.80kg on weights to 21.5kg. Sheep throughput is extremely tight and is running almost 98,000 head behind the same period in 2023 highlighting the tightening on lambs on the market. Cull ewes are making from €4.10kg to €4.50kg in general. The IFA Sheep Chairman said farmers should shop around and sell hard as supplies of suitable lambs are tight.

Lamb Price Update 10/05/2024

Hogget’s €9.20/9.50/kg. Weights to 24kg. Spring Lamb €9.50/9.80kg. Weights to 21.5kg. Higher deals groups/larger lots. Ewes €4.10/4.50/kg.

Supply Figures as Reported by DAFM – WK 18 (05.05.2024)

AnimalFigureChangeYTDYTD Change
Lambs/Hoggets27,770▼-137 769,861▼-81,558 
Spring Lambs7,106▲3,94924,082▼-6,050 
Ewes and Rams3,687▲4184,713▼-10,335 
Light Lambs2▲059▼-37 

Official Irish Prices as Reported by DAFM – WK 18 (05.05.2024)

c/kg (Incl. VAT)This week Change prev. wk2023Change prev. yr
National Avg Price861.14▼-25 675.73▲182
YTD Avg733.19▲8624.81▲130

Official GB Prices as Reported by AHDB

 R3L Overall SQQ*Type of lamb
27/04/2024856.7849.6Old season lamb
04/05/2024836.6824.9Old season lamb
Change▼-20 ▼-25  
Price in c/kg (Incl VAT)1027.31012.9 

Live Sheep Exports March 31st 2024

Source: Bord Bia

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