Beef & Sheep UpdateCattleCattle PricesSheepSheep Prices

Beef & Sheep Update 18th August

Cattle and Sheep in Wickow Field

Beef Update

IFA Livestock Chairman Brendan Golden said factories must put a halt to reducing beef prices. He said the latest Prime export Benchmark price has now opened up a gap of 25c/kg with the Prime Irish composite price.

He said factories are failing to reflect the full value of the market place to farmers and this is unacceptable. Processors must and can do more for return the full value of the market to beef farmers with higher price.

Steer prices are ranging from €4.60kg to €4.70kg and heifers €4.65kg to €4.75kg. 

Young bulls R/U are making from €3.80kg to €4.00kg. Cow prices are starting off at €3.80kg for P grades up to €4.40kg well fleshed U grade cows. 

Brendan Golden said there is up to 10c/kg to 15c/kg of a difference in paid and quoted prices and farmers should sell hard when marketing stock.

Beef Price Update 17/08/2023

Base Quotes Steer €4.60/4.70kg. Heifers €4.65/4.75kg. Higher deals and flat prices for larger and specialist lots. Y Bulls R/U €4.80/5.00Kg. Cows €3.80/4.40kg.

Supply Figures as Reported by DAFM – WK 32 (13.08.2023)

AnimalNumberChange prev wk% of totalYTDYTD Change
Y Bulls1302▼-410 4%81480▼-10,088 
Bull549▼-128 2%17926▼-113 
Cow6547▼-288 20%241685▼-7,246 
Total33329▼-552 100%1063024▼-35,317 

Official Irish Prices as Reported by DAFM – WK 32 (13.08.2023)

c/kg (Incl. VAT)U3Change prev wkR3Change prev wkO3Change prev wkP+3Change prev wk
Steers499▼-7 489▼-7 475▼-6 441▼-7 
Heifers505▼-9 493▼-7 482▼-7 436▼-3 
Y Bulls494▼-6 479▼-5 456▼-9 448▲3
Cows0▲0436▼-12 404▼-4 388▼-6 

Official GB Prices as Reported by AHDB

 SteersSteersHeifersHeifersY bullY bullCow
Change▼-4 ▼-1 ▼-3 ▼-4 ▼-1 ▼-1 ▼-7 
Price in c/kg (Incl VAT)575.2582.4573.1578.4564.2563.8423.4

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

Country & Type07.08.202106.08.202205.08.2023
EU + Y Bulls€ 3.88€ 4.98€ 4.74
IE + Steers€ 4.26€ 4.81€ 4.72
UK + Steers € 4.84€ 5.22€ 5.36

Live Exports W/C 24.07.2023

Source: Bord Bia

Sheep Update

IFA National Sheep Chair Kevin Comiskey has heavily criticised both meat factories and Government for the lack of meaningful support to sheep farmers. He said the crises in the sheep sector is deepening as prices continue to lag behind last year’s levels with an estimated €10.5m wiped of farmers’ incomes in 2023 to date when compared to the price differential from last year. Input costs on sheep farms have increased by over 40% and farmers do not have the capacity to absorb these cost increases which is effectively eroding all margins in an extremely low-income sector he said. Teagasc figures showed income levels on sheep farms dropped by over 80% last year to just €7/ewe which included the SWS payment. “Farmers cannot continue to sustain this level of cuts, confidence in the sector is extremely low and farmers are exiting the sector due to the lack of support displayed to farmers,” the IFA National Sheep Chair said. “Factories and the Government are acutely aware of the loss-making situation sheep farmers are in but refuse to support them,” he added. Kevin Comiskey said the Minister and the Government have sat idle by while the sector is collapsing. IFA have consistently identified these concerns to the Minister but has failed to take action on it and come forward with meaningful supports for sheep farmers.

Lamb Price Update 17/08/2023

Spring Lamb €6.20/6.50/kg. Higher deals groups/larger lots. Ewes €2.70/3.00/kg.

Supply Figures as Reported by DAFM – WK 32 (13.08.2023)

AnimalFigureChangeYTDYTD Change
Lambs/Hoggets385▼-373 978397▲84,271
Spring Lambs39494▼-8,649 561458▼-58,782 
Ewes and Rams6336▼-290 175442▼-18,010 
Light Lambs0▲0127▲20
TOTAL46215▼-9,312 1715424▲7,499

Official Irish Prices as Reported by DAFM – WK 32 (13.08.2023)

c/kg (Incl. VAT)WK 32Change prev wk2022Change prev yr
National Avg Price613.66▼-21 637.57▼-24 
YTD Avg678.52▼-2 712.11▼-34 

Official GB Prices as Reported by AHDB

 R3L Overall SQQ*Type of lamb
05/08/2023575.0574.0New season lamb
12/08/2023574.5574.3New season lamb
Change▼-1 ▲0 
Price in c/kg (Incl VAT)713.7713.5 

Live Sheep Exports Jan-June

Source: Bord Bia

Related Articles