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Beef & Sheep Update 12th August

Sheep and Cattle in Wicklow

Beef Update

IFA Livestock Chairman Brendan Golden said factories are not reflecting the strength of the market in prices paid to farmers. 

He said the latest prime export benchmark price of €5.06/kg, is now 27c/kg ahead of the prime Irish composite price of €4.79/kg. 

Brendan Golden said supplies of prime cattle are tight and all market indicators reflect positive conditions for Irish beef. 

Factories are paying €4.80-5.00kg for steers and €4.85-5.05kg for heifers. Y bulls R/U are making €4.70-5.05kg while cows are ranging from €4.40-5.00kg with higher prices for larger and specialist lots. 

The IFA Livestock Chairman said there is no justification for prices falling 27c/kg behind the Prime export benchmark price and factories must come forward with prices that reflect the current market situation.

Beef Price Update 12/08/2022

Steer Base €4.80/5.00/kg. Heifers €4.85/5.05/kg. Higher deals and flat prices for larger and specialist lots. Y Bulls R/U €4.70/5.05Kg. Cows €4.40/5.00kg.

Supply Figures as Reported by DAFM – WK 31 (07.08.2022)

AnimalNumberChange prev wk% of totalYTDYTD Change
Y Bulls1,639▼-482 5%89,763▲4,643
Bull629▼-54 2%17,366▲1,219
Cow6,123▼-1,197 19%242,700▲35,002
Heifer8,321▼-655 26%296,970▲17,513
Veal-Z10▼-12 0%1,120▲32
Total32,031▼-2,205 100%1,063,783▲90,947

Official Irish Prices as Reported by DAFM – WK 31 (07.08.2022)

c/kg (Incl. VAT)U3Changeprev wkR3Change prev wkO3Change prev wkP+3Change prev wk
Steers517▼-3 508▼-2 493▼-1 460▼-2 
Heifers526▼-5 513▼-3 502▼-4 460▲3
Y Bulls510▼-4 497▲2471▼-7 461▼-3 

Official GB Prices as Reported by AHDB

 SteersSteersHeifersHeifersY bullY bullCow
Change▼-2 ▼-5 ▼-4 ▼-3 ▼-2 ▼-1 ▲0
Price in c/kg (Incl VAT)550.0554.3547.8554.6538.8540.3465.4

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

Country & Type08/08/202007/08/202106/08/2022
EU + Y Bulls€ 3.53€ 3.88€ 4.98
IE + Steers€ 3.75€ 4.26€ 4.81
UK + Steers € 4.15€ 4.84€ 5.22

Live Exports W/C 01.08.2022

Source: Bord Bia

Sheep Update

IFA Sheep Chairman Kevin Comiskey said lamb prices have remained steady this week on the back of tight supplies and strong market demand. He said quality fleshed lambs are scarce on the ground and factories are having to compete strongly to secure supplies of suitable finished lamb. Last week’s spring lamb throughput was back 5,638/head while overall throughput was back 6,543/head from the previous week. Kevin Comiskey said store and breeding sales are very positive in marts and are providing further competition to factories for lambs. Factories are offering deals up to €6.70kg for lambs this week while ewes are ranging from €3.50-3.80kg. The IFA Sheep Chairman said factories must come forward and increase prices further to reflect the increased cost of production on sheep farms. He said farmers should avoid selling underweight lambs and sell hard to maximise returns.

Lamb Price Update 12/08/2022

Lamb €6.40/6.70/kg. Higher deals groups/larger lots. Ewes €3.40/3.80/kg.

Supply Figures as Reported by DAFM – WK 31 (07.08.2022)

AnimalFigureChangeYTDYTD Change
Lambs/Hoggets356▼-17 893,925▲198,111
Spring Lambs42,429▼-5,638 573,134▼-70,794 
Ewes and Rams7,728▼-888 184,283▼-1,089 
Light Lambs1▲0106▼-5 
TOTAL50,514▼-6,543 1,651,448▲126,223

Official Irish Prices as Reported by DAFM – WK 31 (07.08.2022)

c/kg (Incl. VAT)WK 31Change prev wk2021Change prev yr
National Avg Price632.72▼-29 604.77▲28
YTD Avg714.51▼-3 676.59▲38

Official GB Prices as Reported by AHDB

 R3L Overall SQQ*Type of lamb
30/07/2022575.7574.5New season
06/08/2022524.6525.6New season
Change▼-51 ▼-49  
Price in c/kg (Incl VAT)651.7653.0 

Live Sheep Exports 18/07/2022

Source: Bord Bia

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