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Beef & Sheep Update 12th November

Cattle and Sheep in Wicklow Field, Ireland

Beef Update

The IFA Livestock Chairman said farmers should dig in and sell hard as supplies of prime cattle are well short of market demand, the base prices offered of €4.20/kg for steers and €4.25/kg for heifers to most farmers are lagging behind what the market is returning and must push on. 

Brendan Golden said favourable and strengthening market conditions should be coming through in higher beef prices. He said Teagasc has clearly shown the target for beef prices must be over €5.00/kg to cover the continuous increase in production costs.  Factories must stand firm with the large retailers to ensure beef prices keep pace with the production cost increases farmers have to endure.

Beef Price Update 11/11/21

Steer Base €4.20/4.30kg. Heifers €4.25/4.35kg. Higher deals larger lots. Y Bulls R/U €4.15/4.30Kg. Cows €3.50/4.00kg.

Supply Figures as Reported by DAFM  – Week 44 (01.11.2021)

AnimalNumberChange prev. wk.% of totalYTDYTD Change
Y Bulls2,256▲8346%105,937▼-11,139 
Veal-V10▼-17 0%20,886▼-5,913 

Official Irish Prices as Reported by DAFM – Week 44 (01.11.2021)

c/kg (Incl. VAT)U3Change prev wkR3Change prev wkO3Change prev wkP+3Change prev wk
Steers449▼-2 438▼-1 421▲1391▼-2 
Heifers455▼-1 444▲0432▼-1 390▲1
Y Bulls429▼-1 422▲1409▲0399▲6
Cows0▲0387▼-5 363▼-5 349▼-5 

Official GB Prices as Reported by AHDB

 SteersSteersHeifersHeifersY bullY bullCow
Change▲1▲1▲1▼-0 ▲4▼-4 ▼-1 
Price in c/kg (Incl VAT)521.5525.6519.6521.3513.2504.1350.7

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

Country & Type201907.11.202106.11.2021
EU + Y BullsFigures€ 7.03€ 3.73
IE + SteersNot€ 7.19€ 4.15
UK + Steers Available€ 8.28€ 4.89

Live Exports W/C 01.11.2021

Source: Bord Bia

Sheep Update

IFA Sheep Committee Chairman Sean Dennehy said market demand for lambs has pushed prices on 40c/kg in the past week. He said at this stage factories are offering €7.40/kg, with deals on weights to 22.5/kgs, and in some cases, 23kgs. Transport is also on offer to secure lambs. Sean Dennehy said higher deals are available for groups and larger lots and the trade will continue to strengthen as supplies fall well short of market demand. Some factories are also offering bonuses of 20c/kg for light lambs up to 15/kgs, in an attempt to increase throughput of lambs. He said competition in marts is intense between butchers, wholesalers, factory agents and store finishers.  This is providing farmers with a real competitive alternative to factories and ensuring the supply demand balance remains firmly in farmers’ favour.

Lamb Price Update 11/11/21

Lamb €7.10/7.40/kg Higher deals groups/larger lots Weights to 22.5/23kgs Ewes €3.10/3.30/kg V strong demand sell hard.

Supply Figures as Reported by DAFM – Week 44 (01.11.2021)

Lambs/Hoggets78▼-23 697,819▼-92,039 
Spring Lambs48,332▲9,0331,302,255▼-3,351 
Ewes and Rams9,269▲1,297307,236▼-18,714 
Light Lambs1▼-3 126▲66

Official Irish Prices as Reported by DAFM – Week 44 (01.11.2021)

c/kg (Incl. VAT)WK 44 Change prev wk2020Change prev yr
National Avg Price654.46▲18490.1▲164
YTD Avg65.78▼-592 518.34▼-453 

Official GB Prices as Reported by AHDB

 R3L Overall SQQ*Type of lamb
30.10.2021533.5533.2New season
06.11.2021557.7556.5New season
Price in c/kg (Incl VAT)692.9691.4 

Total Live Sheep Exports 12/10/2021

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