Beef & Sheep Update 20th May

Beef Update

IFA Livestock Chairman Brendan Golden said beef prices continue to rise by 5 to 10c/kg as factories struggle to match supplies with market demand. He said farmers would be well advised to shop around with up to 20c/kg difference between quoted and paid prices for all types of cattle. Brendan Golden said factory agents are also competing strongly for finished and forward store types in the marts and paying prices that leave some factory quotes well off the pace. The livestock chairman said demand for beef in our key UK and EU markets is driving the trade a situation that will continue into the summer months and must be availed of to return higher beef prices to farmers as supplies tighten.

Beef Price Update 19/05/2022

Steer Base €5.05/5.25kg. Heifers €5.10/5.30kg. Higher deals and flat prices for larger and specialist lots. Y Bulls R/U €5.20/5.50Kg. Cows €4.50/5.10kg

Supply Figures as Reported by DAFM – Week 19  (15.05.2022)

Animal	Number	Change prev wk	% of total	YTD	YTD Change
Y Bulls	3,134	▲595	9%	55,957	▲1,796
Bull	766	▲125	2%	9,987	▲983
Steer	13,774	▲1,588	38%	239,342	▲26,245
Cow	8,003	▲513	22%	145,932	▲25,540
Heifer	10,048	▲1,305	28%	194,700	▲16,512
Veal-V	5	▲2	0%	27,826	▲7,371
Veal-Z	67	▲29	0%	824	▲43
Total	35,797	▲4,157	100%	674,568	▲78,490

Official Irish Prices as Reported by DAFM – Week 19  (15.05.2022)

c/kg(Incl. VAT)	U3	Change prev wk	R3	Change prev wk	O3	Change prev wk	P+3	Changeprev wk
Steers	539	▲6	531	▲7	522	▲10	492	▲7
Heifers	544	▲7	533	▲9	527	▲8	480	▲6
Y Bulls	530	▲15	518	▲11	497	▲9	483	▲8
Cows	0	▲0	490	▲10	463	▲12	450	▲12

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
07.05.2022	444.9	447.2	445.8	448.7	438.8	440	377.8
07.05.2022	445.3	447.5	439.2	446.5	448.5	439.2	439.8
Change	▲0	▲0	▲1	▼-0	▲1	▼-2	▼-0
Price in c/kg (Incl VAT)	553.2	556.0	554.7	557.2	546.4	544.2	469.0

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

Country & Type	02.05.2020	01.05.2021	30.04.2022
EU + Y Bulls	€ 3.42	€ 3.82	€ 5.14
IE + Steers	€ 3.43	€ 4.09	€ 4.90
UK + Steers	€ 3.76	€ 4.68	€ 5.21

Live Exports W/C 18.04.2021

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Sheep Update

IFA Sheep Committee Chairman Kevin Comiskey said hogget prices have remained steady in the region of €7.50/kg and as numbers tighten demand from factories for spring lamb is increasing. With spring lamb numbers running well below last years levels factories have had to strengthen prices and are competing strongly in marts for lambs where the trade has moved on again over the past few days. Spring lamb numbers are running 19,000 behind last years levels to-date with the latest week 8,400 behind the corresponding week in 2021. Kevin Comiskey said deals on weights to 21kgs for lambs are common place with prices of €8.40 to €8.50/kg as factories try to secure numbers. Higher prices are available to groups and for larger lots of lambs. Cull ewes remain in strong demand and are making up to €4.50/kg. The IFA sheep chairman said the mart trade is proving a real viable alternative for sheep farmers with factory agents paying above what they are offering on factory quotes to some farmers.

Lamb Price Update 19/05/2022

Hogget €7.30/7.50/kg. Spr lamb €8.20/8.40/kg. Weights 20.5/21kg. Higher deals groups/larger lots. Ewes €3.80/4.20/kg.

Supply Figures as Reported by DAFM – Week 19  (15.05.2022)

Animal	Figure	Change	YTD
Lambs/Hoggets	23,335	▼-3,407	835,540	▲161,178
Spring Lambs	19,094	▲3,864	61,197	▼-19,337
Ewes and Rams	6,610	▲1,161	98,598	▼-5,355
Light Lambs	4	▲2	48	▼-48
TOTAL	49,043	▲1,620	995,383	▲136,438

Official Irish Prices as Reported by DAFM –  Week 19  (15.05.2022)

c/kg (Incl. VAT)	WK 19	Change prev wk	2021	Changeprev yr
National Avg Price	744.22	▲5	758.02	▼-14
YTD Avg	700.78	▲2	680.34	▲20

Official GB Prices as Reported by AHDB

	R3L	Overall SQQ*	Type of lamb
07/05/2022	609.6	603.3	Old season
14/05/2022	612.7	605.1	Old season
Change	▲3	▲2
Price in c/kg (Incl VAT)	761.2	751.7