Beef Update
IFA President Francie Gorman said the latest announcement by the Minister for Agriculture Charlie McConalogue addresses the issues for farmers with SCEP eligibility arising from the new ICBF indices. IFA clearly set out at the start of this process that no farmer could be negatively impacted in SCEP from the changes to the indices. This latest announcement now provides this for suckler farmers and pedigree breeders in a pragmatic way,” he said. IFA Livestock chair Declan Hanrahan said today’s announcement means that any female animals whose star rating on the September 2023 index was 4 or 5 star and subsequently dropped on the new index will retain SCEP eligibility when purchased from SCEP and non-SCEP herds for the duration of the scheme. The same criteria are applied for Pedigree Bulls which had a 4 or 5 star rating in the September index that dropped on the new index. These animals will retain SCEP eligibility when purchased from SCEP and non-SCEP farms. This is in addition to female calves born in herds since the new indices were published where they do not meet SCEP eligibility in their own right. These animals will be deemed SCEP eligible if the dam was 3,4, or 5 star and sire 4 star 5 star and carry this eligibility when purchased from either a SCEP or non-SCEP herd.
Beef Price Update 07/03/2024
Base Quotes Steer €5.10/5.25kg. Heifers €5.15/5.30kg. Higher deals and flat prices for larger and specialist lots. Y Bulls R/U €5.10/5.40Kg. Cows €4.00/4.90kg.
Supply Figures as Reported by DAFM – WK 10 (10.03.2024)
| Animal | Number | Change prev wk | % of total | YTD | YTD Change |
| Y Bulls | 2,254 | ▼-303 | 6% | 28,824 | ▼-1,821 |
| Bull | 497 | ▲14 | 1% | 3,842 | ▼-413 |
| Steer | 12,838 | ▼-475 | 35% | 122,875 | ▲4,995 |
| Cow | 8,825 | ▼-798 | 24% | 90,846 | ▲12,037 |
| Heifer | 9,788 | ▼-1,157 | 27% | 107,120 | ▲4,215 |
| Veal-V | 2,597 | ▲178 | 7% | 7,752 | ▼-9,978 |
| Veal-Z | 84 | ▲24 | 0% | 615 | ▲86 |
| Total | 36,883 | ▼-2,517 | 100% | 361,874 | ▲3,665 |
Official Irish Prices as Reported by DAFM – WK 10 (10.03.2024)
| c/kg (Incl. VAT) | U3 | Change prev wk | R3 | Change prev wk | O3 | Change prev wk | P+3 | Change prev wk |
| Steers | 546 | ▲0 | 537 | ▲2 | 525 | ▲0 | 492 | ▲0 |
| Heifers | 558 | ▲3 | 542 | ▲1 | 532 | ▲0 | 482 | ▲4 |
| Y Bulls | 534 | ▲4 | 520 | ▲2 | 505 | ▲0 | 497 | ▲2 |
| Cows | 0 | ▲0 | 474 | ▲2 | 428 | ▲4 | 407 | ▲3 |
Official GB Prices as Reported by AHDB
| Steers | Steers | Heifers | Heifers | Y bull | Y bull | Cow | |
| p/kg | R3 | R4L | R3 | R4L | R3 | R4L | -O4L |
| 02/03/2024 | 503.6 | 507.1 | 503.5 | 505.7 | 492.8 | 487 | 367.7 |
| 09/03/2024 | 504.5 | 507.1 | 503.5 | 505.4 | 489.8 | 488.1 | 371.4 |
| Change | ▲1 | ▲0 | ▲0 | ▼-0 | ▼-3 | ▲1 | ▲4 |
| Price in c/kg (Incl VAT) | 619.5 | 622.7 | 618.3 | 620.6 | 601.4 | 599.3 | 456.0 |
Euro Price for the Most Recent Week (€/KG Deadweight excl. VAT)
| Country & Type | 26.02.2022 | 25.02.2023 | 02.03.2024 |
| EU + Y Bulls | € 4.75 | € 5.14 | € 5.04 |
| IE + Steers | € 4.50 | € 5.26 | € 5.10 |
| UK + Steers | € 4.93 | € 5.46 | € 5.78 |
Live Cattle Exports W/C 26.02.2024
Sheep Update
IFA Sheep Chairman Adrian Gallagher said lamb prices continue to move forward as quotes increase by over 20c/kg this week. He said factories are struggling to match supplies with market demand as pressure mounts to fill orders for the Easter and Ramadan festivals. Total hogget throughput to date is back over 14,000 head and with lamb numbers projected to tighten further in the coming weeks will put increased pressure on factories to meet market demand. This week hogget prices are ranging from €8.30kg to €8.60kg on weights to 24kg. Opening spring lamb quotes for this season are making from €9.20kg to €9.40kg. Cull ewe prices remain steady ranging from €3.30kg to €3.60kg in general. Adrian Gallagher said farmers should sell hard and be mindful of the mart outlet where prices remain very competitive to what factories are offering in cases.
Lamb Price Update 14/03/2024
Hogget’s €8.30/8.60/kg. Weights to 24kg. Spring Lamb €9.20/9.40kg. Higher deals groups/larger lots. Ewes €3.30/3.60/kg.
Supply Figures as Reported by DAFM – WK 10 (10.03.2024)
| Animal | Figure | Change | YTD | YTD Change |
| Lambs/Hoggets | 56,210 | ▲11,843 | 444,089 | ▼-14,258 |
| Spring Lambs | 0 | ▲0 | 8,571 | ▲8,364 |
| Ewes and Rams | 5,031 | ▲111 | 50,599 | ▼-8,686 |
| Light Lambs | 7 | ▲4 | 29 | ▼-7 |
| TOTAL | 61,248 | ▲11,958 | 503,388 | ▼-14,487 |
Official Irish Prices as Reported by DAFM – WK 10 (10.03.2024)
| c/kg (Incl. VAT) | This week | Change prev. wk | 2023 | Change prev. yr |
| National Avg Price | 790.58 | ▲34 | 626.22 | ▲164 |
| YTD Avg | 701.06 | ▲10 | 615.19 | ▲86 |
Official GB Prices as Reported by AHDB
| R3L | Overall SQQ* | Type of lamb | |
| 02/03/2024 | 725.2 | 721.7 | Old season lamb |
| 09/03/2024 | 746.9 | 743.7 | Old season lamb |
| Change | ▲22 | ▲22 | |
| Price in c/kg (Incl VAT) | 917.1 | 913.2 |
Live Sheep Exports February 14th 2024
