Beef & Sheep Update 19th November

Beef

IFA Livestock Chairman Brendan Golden said beef prices have started to move upwards as factories struggle to secure supplies. He said most farmers are now securing €4.20/kg for steers, with prices up to €4.30/kg offered for specialist lots.  Most heifers are now moving at €4.25/kg, with up to €4.35/kg offered at the top end. He said prices in the UK have strengthened again and supplies are running 4% below 2020 levels, creating strong demand for Irish beef for the lucrative Christmas trade. The IFA Livestock Chairman said our beef prices are lagging 9c/kg behind the latest Prime Export Benchmark price and must push on. “Factories need cattle to fill the lucrative Christmas orders and must return the full value of the current strong market conditions,” he said.

Beef Price Update 18/11/21

Steer Base €4.20/4.30kg. Heifers €4.25/4.35kg. Higher deals larger lots. Y Bulls R/U €4.15/4.30Kg. Cows €3.50/4.00kg.

Supply Figures as Reported by DAFM – Week 45 (08.11.2021)

Animal	Number	Change prev. wk.	% of total	YTD	YTD Change
Y Bulls	2,523	▲267	7%	108,460	▼-10,677
Bull	451	▼-32	1%	23,619	▼-5,510
Steer	14,630	▼-1,208	40%	597,616	▼-11,226
Cow	8,449	▲172	23%	301,169	▼-10,477
Heifer	10,751	▲168	29%	414,947	▼-29,001
Veal-V	33	▲23	0%	20,919	▼-5,909
Veal-Z	33	▼-14	0%	1,420	▲54
Total	36,870	▼-624	100%	1,468,150	▼-72,746

Official Irish Prices as Reported by DAFM – Week 45 (08.11.2021)

c/kg(Incl. VAT)	U3	Changeprev wk	R3	Changeprev wk	O3	Changeprev wk	P+3	Changeprev wk
Steers	449	▲0	439	▲1	423	▲2	393	▲2
Heifers	457	▲2	445	▲1	435	▲3	390	▲0
Y Bulls	430	▲1	422	▲0	409	▲0	399	▲0
Cows	0	▲0	384	▼-3	362	▼-1	346	▼-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
06.11.2021	419.8	423.1	418.2	419.6	413.1	405.8	282.3
13.11.2021	419.4	421.4	412.9	420.1	422.0	410.9	411.7
Change	▼-0	▼-2	▲2	▲2	▼-1	▲2	▼-1
Price in c/kg (Incl VAT)	527.2	529.8	528.1	530.5	517.6	512.2	353.3

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

Country & Type	16.11.2019	14.11.2020	13.11.2021
EU + Y Bulls	€ 3.61	€ 3.52	€ 4.30
IE + Steers	€ 3.43	€ 3.60	€ 4.15
UK + Steers	€ 3.86	€ 4.20	€ 4.83

Live Exports W/C 08.11.2021

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Sheep

IFA Sheep Chairman Sean Dennehy said the lamb trade continues to strengthen, driven by strong market demand and tight supplies of finished lamb. Factories are paying €7.30/kg to €7.50/kg with higher deals available for groups and larger lots. In addition, transport and weights to 22.5kg and 23kg are on the table to close out deals he said. Strong factory demand is feeding through to mart sales where factory agents, wholesalers and store buyers are competing very strongly for the limited number of lambs available. He said store lambs making from €3.10/kg to €3.50/kg in marts, with hill type lambs coming into €3.00/kg to €3.20/kg. Sean Dennehy said returns from mart sales are comparable to and in some cases above prices factories are offering, providing farmers a real alternative market for their lambs.

Lamb Price Update 18/11/21

Lamb €7.30/7.50/kg Higher deals groups/larger lots Weights to 22.5/23kgs Ewes €3.10/3.30/kg.

Supply Figures as Reported by DAFM – Week 45 (08.11.2021)

Animal	Figure	Change	YTD	YTD Change
Lambs/Hoggets	53	▼-25	697,872	▼-92,347
Spring Lambs	48,198	▼-134	1,350,453	▼-4,976
Ewes and Rams	7,483	▼-1,786	314,719	▼-20,014
Light Lambs	3	▲2	129	▲69
TOTAL	55,737	▼-1,943	2,363,173	▼-117,268

Official Irish Prices as Reported by DAFM – Week 45 (08.11.2021)

c/kg (Incl. VAT)	WK 45	Changeprev wk	2020	Change prev yr
National Avg Price	684.64	▲30	497.74	▲187
YTD Avg	658.43	▲593	517.88	▲141

Official GB Prices as Reported by AHDB

	R3L	Overall SQQ*	Type of lamb
06.11.2021	557.7	556.5	New season
13.06.2021	598.8	597.4	New season
Change	▲41	▲41
Price in c/kg (Incl VAT)	752.8	751.0

Total Live Sheep Exports 12/10/2021