Beef Update
IFA Livestock Chairman Brendan Golden said factories are not reflecting the strength of the market in returns paid to farmers, despite prices moving on a further 10c/kg this week. He said despite the upward trajectory in quotes, the prime Irish composite price continues to lag 28c/kg behind the prime export benchmark price and this is unacceptable. Demand for beef in our key export markets in the lead up to the Christmas trade has been very firm, creating strong demand for Irish beef. He said factories are currently filling orders for this market and with supplies of suitably finished in spec cattle tight, prices must move on to reflect the full value of this market. Base prices for steers are now making from €4.75/kg to €4.85/kg, while heifers are making from €4.80kg to €4.90kg with higher deals for larger and specialised lots. He said Factories are having to pay up to 10c/kg above quotes to secure cattle this week.
Beef Price Update 01/12/2023
Base Quotes Steer €4.75/4.85kg. Heifers €4.80/4.90kg. Higher deals and flat prices for larger and specialist lots. Y Bulls R/U €4.80/5.00Kg. Cows €3.90/4.60kg.
Supply Figures as Reported by DAFM – WK 47 (26.11.2023)
| Animal | Number | Change prev wk | % of total | YTD | YTD Change |
| Y Bulls | 2,305 | ▲171 | 6% | 104,680 | ▼-14,740 |
| Bull | 444 | ▼-73 | 1% | 25,761 | ▼-295 |
| Steer | 13,619 | ▼-219 | 36% | 637,832 | ▼-22,056 |
| Cow | 11,299 | ▼-670 | 29% | 370,174 | ▲724 |
| Heifer | 10,583 | ▲46 | 28% | 444,287 | ▼-15,194 |
| Veal-V | 10 | ▼-1 | 0% | 30,717 | ▲2,365 |
| Veal-Z | 90 | ▲61 | 0% | 1,545 | ▼-5 |
| Total | 38,350 | ▼-685 | 100% | 1,614,996 | ▼-49,201 |
Official Irish Prices as Reported by DAFM – WK 47 (26.11.2023)
| c/kg (Incl. VAT) | U3 | Change prev wk | R3 | Change prev wk | O3 | Change prev wk | P+3 | Change prev wk |
| Steers | 504 | ▲10 | 495 | ▲11 | 482 | ▲15 | 450 | ▲13 |
| Heifers | 512 | ▲10 | 500 | ▲10 | 494 | ▲11 | 444 | ▲12 |
| Y Bulls | 494 | ▲10 | 486 | ▲12 | 469 | ▲11 | 464 | ▲14 |
| Cows | 0 | ▲0 | 440 | ▲9 | 403 | ▲10 | 379 | ▲10 |
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 |
| 18/11/2023 | 489.7 | 492.9 | 488 | 491.1 | 474.9 | 468.1 | 320.3 |
| 25/11/2023 | 489.0 | 493.3 | 487.0 | 491.6 | 479.7 | 471.5 | 320.9 |
| Change | ▼-1 | ▲0 | ▼-1 | ▲1 | ▲5 | ▲3 | ▲1 |
| Price in c/kg (Incl VAT) | 600.4 | 605.7 | 598.0 | 603.6 | 589.0 | 579.0 | 394.0 |
Euro Price for the Most Recent Week (€/KG Deadweight excl. VAT)
| Country & Type | 11.27.2021 | 11.27.2022 | 11.25.2023 |
| EU + Y Bulls | € 4.37 | € 5.12 | € 4.92 |
| IE + Steers | € 4.19 | € 4.67 | € 4.59 |
| UK + Steers | € 4.94 | € 5.11 | € 5.52 |
Live Exports W/C 13.11.2023
Sheep Update
IFA Sheep Chairman Adrian Gallagher has criticized factories for the unjustified attempts to weaken lamb’s prices this week. He said numbers of suitable lambs are tight on the ground and there was no rational to weaken lamb prices. He said this behaviour only serves to undermine confidence within the sector and has called on factories to increase prices at this critical time of the year for sheep farmers. Factories are offering €6.50kg to €6.70kg on weights to 23kg, with higher deals for groups and larger lots. Cull ewes are making from €2.70kg to €3.10kg in general. Adrian Gallagher said farmers should sell hard, consider the mart outlet and be mindful of weights when drafting lambs.
Lamb Price Update 01/12/2023
Spring Lamb €6.50/6.70/kg. Weights to 23kg. Higher deals groups/larger lots. Ewes €2.70/3.10/kg.
Supply Figures as Reported by DAFM – WK 47 (26.11.2023)
| Animal | Figure | Change | YTD | YTD Change |
| Lambs/Hoggets | 1,996 | ▼-121 | 986,437 | ▲81,702 |
| Spring Lambs | 51,469 | ▲867 | 1,301,182 | ▼-76,214 |
| Ewes and Rams | 6,249 | ▼-279 | 305,970 | ▼-48,603 |
| Light Lambs | 0 | ▲0 | 149 | ▲2 |
| TOTAL | 59,714 | ▲467 | 2,593,738 | ▼-43,113 |
Official Irish Prices as Reported by DAFM – WK 47 (26.11.2023)
| c/kg (Incl. VAT) | This week | Change prev. wk | 2022 | Change prev. yr |
| National Avg Price | 645.63 | ▲4 | 648.93 | ▼-3 |
| YTD Avg | 661.15 | ▼-0 | 682.59 | ▼-21 |
Official GB Prices as Reported by AHDB
| R3L | Overall SQQ* | Type of lamb | |
| 18/11/2023 | 592.3 | 589.9 | New season lamb |
| 25/11/2023 | 592.0 | 588.7 | New season lamb |
| Change | ▼-0 | ▼-1 | |
| Price in c/kg (Incl VAT) | 726.9 | 722.9 |
Live Sheep Exports Jan-Sep
