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Beef & Sheep Update 12th April

Sheep and Cattle in Wicklow

Beef Update

IFA National Livestock Chair Declan Hanrahan said the attempts by factories to take advantage of the weather difficulties farmers are enduring is unacceptable.  He said market conditions and the supplies of finished cattle justify stronger beef prices.

The IFA National Livestock Chair said the Prime Export Benchmark Price increased a further 4c/kg in the latest Bord Bia report reflecting the demand for beef in our key export markets. He said our prices are currently over 10c/kg behind this time last year while beef prices in our largest market, the UK are running over 12c/kg ahead of last year for the latest reported week. Declan Hanrahan said there is no justification for this and factories must move beef prices on.

Demand for beef is extremely strong in the UK, Northern Ireland factories are freely offering 5c/kg more for ROI cattle than some factories here for direct slaughter, agents for these factories are also very active in marts adding to competition for finished and forward store cattle.  The IFA National Livestock Chair said attempts by factories to take advantage of these difficulties by holding back on beef price and playing their usual games of pushing back cattle is not acceptable, will not wash with farmers and must stop.

Beef Price Update 11/04/2024

Base Quotes Steer €5.20/5.30kg. Heifers €5.25/5.35kg. Higher deals and flat prices for larger and specialist lots. Y Bulls R/U €5.10/5.40Kg. Cows €4.10/4.90kg.

Supply Figures as Reported by DAFM – WK 14 (07.04.2024)

AnimalNumberChange prev wk% of totalYTDYTD Change
Y Bulls1,658▲15%35,925▼-1,996 
Steer11,292▼-483 35%169,839▲4,643
Cow7,627▼-14 24%122,418▲15,353
Veal-Z37▼-26 0%789▲82

Official Irish Prices as Reported by DAFM – WK 14 (07.04.2024)

c/kg (Incl. VAT)U3Change prev wkR3Change prev wkO3Change prev wkP+3Change prev wk
Heifers565▲2551▲2540▼-1 489▼-2 
Y Bulls543▲3532▲2518▲2512▲4

Official GB Prices as Reported by AHDB

 SteersSteersHeifersHeifersY bullY bullCow
Change▼-0 ▼-2 ▼-1 ▼-3 ▼-1 ▲3▲5
Price in c/kg (Incl VAT)608.2607.8606.6607.3591.0591.2466.9

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

Country & Type26.03.202225.03.202330.03.2024
EU + Y Bulls€ 5.16€ 5.15€ 5.06
IE + Steers€ 4.76€ 5.26€ 5.18
UK + Steers € 5.08€ 5.57€ 5.69

Live Cattle Exports W/C 25.03.2024

Source: Bord Bia

Sheep Update

IFA Sheep Chair Adrian Gallagher said the opening of the €8/ewe National Sheep Welfare Scheme today by the Minister for Agriculture Charlie McConalogue is an important step in ensuring the levels of targeted support for sheep farmers reflects the enormous challenges in the sector. He said this scheme when combined with the SIS brings the total direct supports for sheep farmers to €20/ewe for this year which is much needed and must be built on. Adrian Gallaher said this new scheme has come about following an intensive campaign by IFA throughout last year highlighting the enormous income challenges on sheep farms The scheme is based on two categories of actions, with two actions within each category all costed at €4/ewe with participants selecting one action from each category to receive the full €8 payment. Adrian Gallagher said the choice of category 1 actions is shearing or Body Condition Scoring with the category two actions providing the option to select clostridial vaccination or plunge dipping.

Lamb Price Update 11/04/2024

Hogget’s €8.90/9.30/kg. Weights to 24kg. Spring Lamb €9.40/9.70kg. Higher deals groups/larger lots. Ewes €3.90/4.30/kg.

Supply Figures as Reported by DAFM – WK 14 (07.04.2024)

AnimalFigureChangeYTDYTD Change
Lambs/Hoggets42,891▼-10,843 644,962▼-41,270 
Spring Lambs757▼-7 10,555▲6,088
Ewes and Rams3,557▼-981 69,371▼-6,261 
Light Lambs5▼-2 49▼-4 
TOTAL47,210▼-11,833 724,937▼-41,447 

Official Irish Prices as Reported by DAFM – WK 14 (07.04.2024)

c/kg (Incl. VAT)This week Change prev. wk2023Change prev. yr
National Avg Price861.14▲24675.73▲184
YTD Avg733.19▲20624.81▲114

Official GB Prices as Reported by AHDB

 R3L Overall SQQ*Type of lamb
30/03/2024821.5816.3Old season lamb
06/04/2024837.2829.5Old season lamb
Price in c/kg (Incl VAT)1028.01018.5 

Live Sheep Exports March 31st 2024

Source: Bord Bia

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