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Beef & Sheep Update 14th June

Cattle and Sheep in field, Wicklow, Ireland

Beef Update

IFA Livestock Chairman Declan Hanrahan said beef prices have moved on a further 5c/kg this week as supplies of finished cattle tighten. He said poor weather conditions has delayed the number of grass cattle coming onto stream and with shed cattle almost gone out of the system numbers are expected to become very tight in the coming weeks. Declan Hanrahan said based on Bord Bia projections there will be 70,000 fewer cattle between now and year end available to factories with supplies also predicted to be tight in the UK and EU markets over the coming months. He said factories must continue this upward trajectory in prices and return the full value of the market in higher prices paid to farmers. This week steers are making from €5.15kg to €5.25 while heifers are making from €5.20kg to €5.30kg. Young bulls R and U grades are ranging from €5.25kg to €5.50kg. Cull cows are ranging from €4.30kg for P grades up to €5.10 for well fleshed U grade cows.

Beef Price Update 14/06/2024

Base Quotes Steer €5.15/5.25kg. Heifers €5.20/5.30kg. Higher deals and flat prices for larger and specialist lots. Y Bulls R/U €5.25/5.50Kg. Cows €4.30/5.05kg.

Supply Figures as Reported by DAFM – WK 23 (09.06.2024)

AnimalNumberChange prev wk% of totalYTDYTD Change
Y Bulls2,984▲6710%56,297▼-3,941 
Bull678▼-61 2%12,003▼-205 
Steer9,590▼-1,631 33%276,849▲2,808
Heifer7,815▼-685 27%228,017▲9,110
Veal-Z21▼-27 0%1,079▲120
Total28,736▼-2,030 100%782,931▲3,665

Official Irish Prices as Reported by DAFM – WK 23 (09.06.2024)

c/kg (Incl. VAT)U3Change prev wkR3Change prev wkO3Change prev wkP+3Change prev wk
Y Bulls544▲3533▲6514▲7502▲10

Official GB Prices as Reported by AHDB

 SteersSteersHeifersHeifersY bullY bullCow
Change▼-3 ▼-5 ▼-4 ▼-1 ▼-2 ▼-1 ▼-1 
Price in c/kg (Incl VAT)593.9594.1592.3597.5581.2579.9473.5

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

Country & Type28.02.202227.05.202301.06.2024
EU + Y Bulls€ 4.98€ 4.96€ 5.07
IE + Steers€ 5.26€ 5.22€ 5.13
UK + Steers € 5.19€ 5.70€ 5.66

Live Cattle Exports W/C 27.05.2024

Sheep Update

IFA Sheep Chairman Adrian Gallagher said supplies of suitably finished lambs are tight on the ground and further cuts to lamb prices is unacceptable. He said factories must recognize the cost of production sheep farmers face to finish lambs at this time of year. The number of suitable lamb’s factories need to fill markets are not available on the ground and this approach only serves to undermine confidence in the sector. He said hogget supplies are dropping week on week and with no surge of spring lambs coming to market will result if further tightening of supplies over the coming weeks.  Adrian Gallagher said farmers should sell hard while moving lambs at optimum weights to maximize returns and take control back from factories.

Lamb Price Update 14/06/2024

Hogget €8.20/8.50kg. Weights to 24kg. Spring Lamb €9.00/9.30/kg. Weights to 21.5kg. Higher deals groups/larger lots. Ewes €4.10/4.50/kg.

Supply Figures as Reported by DAFM – WK 23 (09.06.2024)

AnimalFigureChangeYTDYTD Change
Lambs/Hoggets11,257▼-4,438 863,472▼-83,616 
Spring Lambs26,107▲3,208114,719▼-35,988 
Ewes and Rams4,092▼-129 105,988▼-15,561 
Light Lambs0▼-11 82▼-30 
TOTAL41,456▼-1,370 1,084,261▼-135,195 

Official Irish Prices as Reported by DAFM – WK 23 (09.06.2024)

c/kg (Incl. VAT)This week Change prev. wk2023Change prev. yr
National Avg Price861.14▼-63 675.73▲123
YTD Avg733.19▲7624.81▲136

Official GB Prices as Reported by AHDB

 R3L Overall SQQ*Type of lamb
01/06/2024850.0849.7Old season lamb
08/06/2024807.4807.6Old season lamb
Change▼-43 ▼-42  
Price in c/kg (Incl VAT)991.4991.71

Live Sheep Exports March 31st 2024

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