Beef & Sheep UpdateCattleCattle PricesSheepSheep Prices

Beef & Sheep Update 14th October

Beef Update

livestock chairman Brendan Golden said factories are more anxious for cattle with €4.70/kg more feely available for steers heading into the weekend and an additional 5c to 10c/kg offered for heifers.

He said UK beef prices are steady to slightly stronger over the course of the past week with EU prices strengthening.

Brendan Golden said the gap with the Bord Bia Prime Export Benchmark price is now 27c/kg, with the strength of the EU market evident in the increase of 6c/kg in the latest week on the EU Benchmark price opening up a differential of 33c/kg.

He said there is no justification for the this level of differential with beef prices in our key export markets and factories must increase beef prices to close the gap.

Beef Price Update 13/10/2022

Steer Base €4.65/4.75kg. Heifers €4.70/4.80kg. Higher deals and flat prices for larger and specialist lots. Y Bulls R/U €4.70/4.90Kg. Cows €4.30/4.90kg.

Supply Figures as Reported by DAFM – WK 40 (09.10.2022)

AnimalNumberChange prev wk% of totalYTDYTD Change
Y Bulls1587▲304%104125▲5,724
Bull399▼-111 1%22620▲1,204
Steer18839▼-643 47%549494▲31,282

Official Irish Prices as Reported by DAFM – WK 40 (09.10.2022)

c/kg (Incl. VAT)U3Change prev wkR3Change prev wkO3Change prev wkP+3Change prev wk
Steers501▼-3 489▼-5 470▼-5 441▼-4 
Heifers505▼-6 493▼-5 481▼-4 436▼-9 
Y Bulls487▼-1 476▼-4 456▼-5 443▼-11 
Cows0▲0460▼-7 438▼-8 423▼-8 

Official GB Prices as Reported by AHDB

 SteersSteersHeifersHeifersY bullY bullCow
Price in c/kg(Incl VAT)537.1540.6535.1539.4529.4528.2445.0

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

Country & Type03.10.202002.10.202101.10.2022
EU + Y Bulls€ 3.52€ 4.06€ 4.97
IE + Steers€ 3.62€ 4.17€ 4.68
UK + Steers € 4.09€ 4.82€ 4.95

Live Exports W/C 03.10.2022

Sheep Update

IFA Sheep Chairman Kevin Comiskey said Minister Pippa Hackett must do more to resolve the collapse in wool prices. He said the industry in the UK has led in developing a brand through British Wool and maximised the value of wool for UK farmers, and lessons need to be learned from this approach. “Despite the undeniable environmental credentials of wool for upgrading from a waste material to a renewable resource for the production of multiple products, Minister Hackett spent €100,000 on a study that merely told us what everybody in the sector already knew and since the publication of the report has gone silent on the issue,” he said. He said the Minister failed to take advantage of the opportunity to support farmers for shearing costs, and in the presentation of wool to optimise its potential, through supports in the Sheep Improvement Scheme in the CAP and subsequently in the budget. Kevin Comiskey has called for the immediate convening of the Sheep Industry Group recommended in the report to advance the process of adding value to the wool we produce and to put the structures in place that rewards farmers for this environmentally sustainable raw material.

Lamb Price Update 13/10/2022

Lamb €6.10/6.40/kg to 22kg. Higher deals groups/larger lots. Ewes €3.00/3.50/kg.

Supply Figures as Reported by DAFM – WK 40 (09.10.2022)

AnimalFigureChangeYTDYTD Change
Spring Lambs52784▲3291031081▼-80,814 
Ewes and Rams11447▼-614 287422▲15,108
Light Lambs2▲0118▼-3 
TOTAL65177▼-55 2219376▲137,605

Official Irish Prices as Reported by DAFM – WK 40 (09.10.2022)

c/kg (Incl. VAT)WK Changeprev wk2021Change prev yr
National Avg Price608.55▼-6 613.26▼-5 
YTD Avg693.45▼-2 660.13▲33

Official GB Prices as Reported by AHDB

 R3L Overall SQQ*Type of lamb
01-Oct-22525.5522.4New season
08-Oct-22522.7519.9New season
Change▼-3 ▼-3  
Price in c/kg (Incl VAT)627.2623.9 

Live Sheep Exports 18/07/2022

Source: Bord Bia

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