Beef & Sheep UpdateCattleCattle PricesSheepSheep Prices

Beef & Sheep Update 11th November

Cattle and Sheep in field, Wicklow, Ireland

Beef Update

IFA Livestock Chairman Brendan Golden said the latest Bord Bia Beef Price Tracker has opened a gap of almost 50c/kg with our beef prices, which is unacceptable. He said factories are failing to reflect the value of the market and cuts over the past few weeks are at odds with strengthening prices in our key markets as we face into the key Christmas trade. The IFA Livestock Chairman said the Prime Export Benchmark Price increased throughout the month of October alone by 7c/kg, to €4.96/kg.  Over the same period, factories here have slashed beef prices by 15c/kg, bringing the Prime Irish Composite Price back to €4.47/kg, or a differential of 49c/kg.  This equates to almost €200 for a 400kg carcase. Brendan Golden said the opportunism of factories must stop and beef prices must reflect the reality of the market place. He said the current price differential is the largest recorded between our prices and the price paid for beef in our key markets. Brendan Golden said IFA has sought an urgent meeting with Meat Industry Ireland on the issue.

Beef Price Update 10/11/2022

Steer Base €4.55/4.75kg. Heifers €4.60/4.80kg. Higher deals and flat prices for larger and specialist lots. Y Bulls R/U €4.50/4.80Kg. Cows €3.90/4.50kg.

Supply Figures as Reported by DAFM – WK 44 (07.11.2022)

AnimalNumberChange prev wk% of totalYTDYTD Change
Y Bulls1,573▼-614 5%111,825▲5,888
Bull409▼-112 1%24,523▲1,355
Steer13,996▼-3,077 42%618,091▲35,105
Cow8,207▼-898 24%336,815▲44,095
Heifer9,397▼-1,656 28%426,927▲22,731
Total33,660▼-6,311 100%1,547,878▲116,598

Official Irish Prices as Reported by DAFM – WK 44 (07.11.2022)

c/kg (Incl. VAT)U3Change prev wkR3Change prev wkO3Change prev wkP+3Change prev wk
Steers487▼-1 475▼-2 460▼-1 428▼-1 
Heifers494▼-3 482▲0470▼-2 422▼-5 
Y Bulls478▲1467▲2448▲4438▲3
Cows0▲0436▼-3 410▼-5 492▲92

Official GB Prices as Reported by AHDB

 SteersSteersHeifersHeifersY bullY bullCow
Change▲1▼-1 ▲2▲1▼-0 ▲0▼-4 
Price in c/kg (Incl VAT)542.3546.5541.0544.9527.0527.6429.7

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

Country & Type202031.10.202129.10.2022
EU + Y BullsFigures€ 4.22€ 5.06
IE + SteersNot € 4.16€ 4.52
UK + Steers Available€ 4.89€ 5.12

Live Exports W/C 17.10.2022

Source: Bord Bia

Sheep Update

IFA Sheep Chairman Kevin Comiskey said the Dept of Agriculture’s Annual Review and Outlook 2022 clearly sets out the crisis facing sheep farms as market prices fail to reflect the higher production costs on farms. He said prices are currently 23c/kg behind last year’s levels or almost €5/lamb, despite the enormous input cost increases of over 30%. This is further compounded by the failure of the Minister for Agriculture Charlie McConalogue to provide targeted meaningful supports to the sector to offset the input cost increases. “The sheep sector is in crisis.  The store lamb trade, particularly lighter stores, are under severe pressure.  Farmers who bought stores earlier in the year are not getting the market returns needed and all sheep farmers face a critical income situation,” he said. IFA identified these concerns to the Minister for Agriculture earlier this year as input costs increased, but no action has been taken.

Lamb Price Update 10/11/2022

Lamb €6.20/6.50/kg. Deals to 22.5kgs. Higher deals groups/larger lots. Ewes €2.70/3.50/kg.

Supply Figures as Reported by DAFM – WK 44 (07.11.2022)

AnimalFigureChangeYTDYTD Change
Spring Lambs45,875▼-5,447 1,229,402▼-72,853 
Ewes and Rams7,476▼-3,362 329,458▲22,222
Light Lambs2▲2139▲13
TOTAL53,971▼-8,511 2,462,125▲154,689

Official Irish Prices as Reported by DAFM – WK 44 (07.11.2022)

c/kg (Incl. VAT)WK 44 Change prev wk2021Change prev yr
National Avg Price613.04▼-0 654.46▼-41 
YTD Avg686.10▼-2 657.83▲28

Official GB Prices as Reported by AHDB

 R3L Overall SQQ*Type of lamb
29/10/2022523.5519.5New season
05/11/2022516.1512.6New season
Change▼-7 ▼-7  
Price in c/kg (Incl VAT)619.3615.1 

Live Sheep Exports 18/07/2022

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