Beef & Sheep Update 20th August

Beef Update

Brendan Golden said farmers should ignore the negative propaganda from factories and their agents who are intent on trying to undermine the market. Supplies of cattle for the remainder of the year are predicted by Bord Bia to be back up to 40,000 head compared to last year. In our main market – the UK – supplies are running below last year’s levels by 5%. This is forecast to continue for the year. He said GB prices have strengthened consistently since mid-May with EU Young Bull prices also edging upwards, highlighting the demand for beef in our main markets. The IFA Livestock Chairman said the latest Prime Irish Composite price is €4.23/kg, compared to the EU Prime Export Benchmark price of €4.06/kg, with the Export Benchmark Price increasing by 3c/kg on the week.

Beef Price Update 19/08/21

Steer Base €4.15/4.20kg. Heifers €4.20/4.25kg. Higher deals larger lots. Y Bulls R/U €4.25/4.40Kg. Cows €3.60/4.00kg.

Supply Figures as Reported by DAFM  – Week 32 (09.08.2021)

Animal	Number	Changeprev wk	% of total	YTD	YTD Change
Y Bulls	1,504	▲114	4%	86,624	▼-13,727
Bull	639	▲20	2%	16,786	▼-4,335
Steer	16,814	▲1,516	49%	379,522	▼-13,939
Cow	6,464	▲574	19%	214,162	▼-3,819
Heifer	8,577	▲802	25%	288,034	▼-30,883
Veal-V	7	▲3	0%	20,625	▼-5,859
Veal-Z	7	▼-14	0%	1,095	▲98
Total	34012	▲3,015	100%	1,006,848	▼-72,464

Official Irish Prices as Reported by DAFM – Week 32 (09.08.2021)

c/kg (Incl. VAT)	U3	Changeprev wk	R3	Changeprev wk	O3	Changeprev wk	P+3	Changeprev wk
Steers	457	▼-3	446	▼-4	430	▼-4	397	▼-5
Heifers	462	▼-4	449	▼-4	438	▼-6	393	▼-6
Y Bulls	440	▼-3	429	▼-2	410	▼-4	402	▼-11
Cows	0	▲0	389	▼-2	368	▼-2	357	▼-2

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
07.08.2021	415.3	417.7	413.9	417.5	408.1	405	316
24.07.2021	411.6	413.9	411.2	412.8	405.4	402.7	312
Change	▼-0	▲1	▲2	▲1	▼-1	▲0	▲1
Price in c/kg(Incl VAT)	509.5	514.2	510.3	513.3	500.5	497.5	389.2

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

Country & Type	10.08.2019	08.08.2020	07.08.2021
EU + Y Bulls	€ 3.49	€ 3.53	€ 3.88
IE + Steers	€ 3.45	€ 3.75	€ 4.26
UK + Steers	€ 3.58	€ 4.15	€ 4.84

Live Exports W/C 09.08.2021

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Sheep Update

IFA Sheep Chairman Sean Dennehy said lamb prices have increased by up to 20c/kg this week as factories compete for supplies. He said prices of €6.40/kg are available, with deals to 21.5kgs. Better deals are available for larger lots and groups. Cull ewes are making €3.40 to €3.60/kg. He said store and breeding sales are buoyant in the marts and they’re providing competition for lamb supplies to the factories. He said farmers should sell hard in a strong market, while moving lambs as they become fit. “The orderly selling of lambs this year is ensuring there will be no glut of lambs coming onto the market. The absence of imports from outside the EU in the market place is also a significant contributor to the positive market conditions which should prevail for the year,” he said.

Lamb Price Update 19/08/21

Spring Lamb €6.20/6.40kg to 21.5kgs Higher deals groups and larger lots. Good Demand. Sell Hard. Ewes 3.40/3.60kg.

Supply Figures as Reported by DAFM – Week 32 (09.08.2021)

Animal	Figure	Change	YTD	YTD Change
Lambs/Hoggets	265	▼-244	696,079	▼-91,245
Spring Lambs	51,823	▲9,973	695,751	▼-11,435
Ewes and Rams	9,946	▲2,166	195,318	▼-15,598
Light Lambs	0	▼-6	111	▲67
TOTAL	62,034	▲11,889	1,587,259	▼-118,211

Official Irish Prices as Reported by DAFM – Week 32 (09.08.2021)

c/kg (Incl. VAT)	WK 32	Changeprev wk	2020	Changeprev yr
National Avg Price	593.47	▼-11	486.72	▲107
YTD Avg	673.99	▼-3	526.78	▲147

Official GB Prices as Reported by AHDB

	R3L	Overall SQQ*	Type of lamb
17/06/2021	527.1	528.8	New season
24/07/2021	512	515.8	New season
Change	▼-15	▼-13
Price in c/kg (Incl VAT)	628.7	633.4