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Beef & Sheep Update 19th January

Cattle and Sheep in Wicklow Field, Ireland

Beef Update

Reacting to the draft Action Plan announced by the Minister for Agriculture for Dairy Calf to Beef Systems, IFA Livestock Chairman Declan Hanrahan said the plan lacks the first and most fundamental component, which is a guaranteed return for the financial and labour investment for almost two years to bring these animals to slaughter. Declan Hanrahan said despite encouraging results from optimum trial conditions on a select few farms, the figures speak for themselves: 60% of farmers who attempted rearing beef calves from the dairy herd leave over five years. He said dealing with the issue of beef calves from the dairy herd is a huge challenge that must be resolved, but expecting beef farmers to take effectively all of the risk for up to two years will not lead to a successful outcome. IFA has consistently called for a minimum of €100 per calf payment for farmers taking on the rearing of dairy beef calves.   This is the minimum level of funding that will be required in order for the system to be adopted on enough beef farms.

Beef Price Update 19/01/2024

Base Quotes Steer €5.10/5.20kg. Heifers €5.15/5.25kg. Higher deals and flat prices for larger and specialist lots. Y Bulls R/U €5.10/5.50Kg. Cows €4.20/4.80kg.

Supply Figures as Reported by DAFM – WK 02 (14.01.2024)

AnimalNumberChange prev wk% of totalYTDYTD Change
Y Bulls3,466▲80010%6,132▼-1,263 
Veal-Z27▼-10 0%64▼-28 

Official Irish Prices as Reported by DAFM – WK 02 (14.01.2024)

c/kg (Incl. VAT)U3Change prev wkR3Change prev wkO3Change prev wkP+3Change prev wk
Y Bulls531▲9521▲7506▲6501▲7

Official GB Prices as Reported by AHDB

 SteersSteersHeifersHeifersY bullY bullCow
Price in c/kg (Incl VAT)611.9615.5610.3614.1595.8591.9429.8

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

Country & Type202110.12.202209.12.2023
EU + Y BullsNot Available€ 5.16€ 4.95
IE + SteersNot Available€ 4.83€ 4.84
UK + Steers Not Available€ 5.18€ 5.62

Live Exports W/C 01.01.2024

Source: Bord Bia

Sheep Update

IFA Sheep Chairman Adrain Gallagher said lamb prices have moved on 10c/kg this week as factories struggle to match supplies with market demand. This week lamb prices are making from €6.80kg to €7.10kg with the higher prices becoming a lot easier to negotiate.  The mart trade remains firm with prices for well fleshed lambs comparable to and above what factories are offering to farmers in cases. Cull ewes are ranging from €2.80kg to €3.30kg in general. He said its vital factories continue this upward trajectory of prices to keep pace with returns in our key export markets which remain significantly higher than ours. Adrain Gallagher said farmers should sell hard and avoid selling underweight lambs to maximise returns.

Lamb Price Update 19/01/2024

Spring Lamb €6.80/7.10/kg. Weights to 23kg. Higher deals groups/larger lots. Ewes €2.70/3.20/kg.

Supply Figures as Reported by DAFM – WK 02 (14.01.2024)

AnimalFigureChangeYTDYTD Change
Spring Lambs0▼-8,571 8,571▲8,571
Ewes and Rams6,515▲2,51010,520▼-2,757 
Light Lambs2▼-1 5▼-2 

Official Irish Prices as Reported by DAFM – WK 02 (14.01.2024)

c/kg (Incl. VAT)This week Change prev. wk2023Change prev. yr
National Avg Price662.61▲4625.86▲37
YTD Avg660.47▲2638.88▲22

Official GB Prices as Reported by AHDB

 R3L Overall SQQ*Type of lamb
06/01/2024619.0615.6Old season lamb
13/01/2024608.7605.5Old season lamb
Change▼-10 ▼-10  
Price in c/kg (Incl VAT)747.4743.5 

Live Sheep Exports 2023

Source: Bord Bia

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