Beef & Sheep UpdateCattleCattle PricesSheepSheep Prices

Beef & Sheep Update 16th February

Cattle and Sheep in Wicklow field

Beef Update

IFA Livestock Chairman Declan Hanrahan said market conditions are favourable in our key export markets for beef. He said the UK beef price continues to increase week on week and is now 60c/kg above our price, while across the EU prices continue in a steady upward trajectory creating strong demand for Irish beef and ensuring the Bord Bia Prime Export Benchmark price is rising faster than our beef prices. The IFA livestock chairman said the facts of the market are very much at odds with the negative messages coming from some factories and their agents on beef price. He said projections for the year are for increased demand for beef in the UK market with consumption levels predicted to grow, providing further opportunities for Irish beef to continue to build on the increased volumes which went to this key market in 2023.

Based on Bord Bia projections there will be over 30,000 less finished cattle available to factories in the coming months and with strong growth projected in live exports this deficit could grow.

Beef Price Update 15/02/2024

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 €5.20/5.50Kg. Cows €4.20/5.00kg.

Supply Figures as Reported by DAFM – WK 06 (11.02.2024)

AnimalNumberChange prev wk% of totalYTDYTD Change
Y Bulls2,510▼-867 7%18,392▼-2,323 
Bull344▼-175 1%1,955▼-184 
Steer11,389▼-1,315 34%69,879▲2,475
Cow9,235▼-835 27%53,823▲5,815
Heifer10,003▼-588 30%63,064▲1,619
Total33,774▼-3,522 100%207,616▲3,665

Official Irish Prices as Reported by DAFM – WK 06 (11.02.2024)

c/kg (Incl. VAT)U3Change prev wkR3Change prev wkO3Change prev wkP+3Change prev wk
Steers551▼-2 543▲0533▼-1 501▼-1 
Heifers560▼-1 547▼-1 538▼-2 491▲0
Y Bulls538▲0526▼-4 513▼-1 503▼-2 
Cows0▲0479▼-3 436▲0415▼-3 

Official GB Prices as Reported by AHDB

 SteersSteersHeifersHeifersY bullY bullCow
Change▲1▲1▲2▲2▲4▼-5 ▲2
Price in c/kg (Incl VAT)617.4620.7615.5619.1600.6595.2445.1

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

Country & Type29.01.202228.01.202303.02.2024
EU + Y Bulls€ 4.57€ 5.14€ 5.02
IE + Steers€ 4.33€ 5.21€ 5.19
UK + Steers € 4.91€ 5.27€ 5.78

Live Exports W/C 05.02.2024

Sheep Update

IFA Sheep Chairman Adrian Gallagher said lamb prices have increased by 20c/kg this week on the back of tight supplies and strong market demand. He said lambs are now making from €7.20kg to €7.40kg with higher prices for groups and larger lots. Cull ewes have also increase 10c/kg with prices ranging from €3.00kg to €3.40kg in general. The mart trade is very strong for all categories of sheep with prices exceeding what factories are offering in a lot of instances. The IFA sheep chairman said farmers should be mindful of the mart outlet when marketing lambs which is providing a competitive alternative for lambs.

Lamb Price Update 15/02/2024

Lamb €7.20/7.40/kg. Weights to 23kg. Higher deals groups/larger lots. Ewes €3.00/3.40/kg.

Supply Figures as Reported by DAFM – WK 06 (11.02.2024)

AnimalFigureChangeYTDYTD Change
Lambs/Hoggets40,817▼-7,262 262,915▼-12,648 
Spring Lambs0▲08,571▲8,571
Ewes and Rams4,701▼-504 30,361▼-8,402 
Light Lambs5▼-3 18▼-2 
TOTAL45,523▼-7,769 301,865▼-12,481 

Official Irish Prices as Reported by DAFM – WK 06 (11.02.2024)

c/kg (Incl. VAT)This week Change prev. wk2023Change prev. yr
National Avg Price684.90▲4603.97▲81
YTD Avg671.84▲3618.13▲54

Official GB Prices as Reported by AHDB

 R3L Overall SQQ*Type of lamb
03/02/2024647.2643.5Old season lamb
10/02/2024666.1662.2Old season lamb
Price in c/kg (Incl VAT)817.9813.1 

Live Sheep Exports 2023

Related Articles