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Beef & Sheep Update 21st January

Cattle and Sheep in Wicklow Field, Ireland

Beef Update

IFA Livestock chairman Brendan Golden said cattle prices have increased again this week. The IFA Livestock Chairman said “Factories are anxious for cattle and farmers with stock on hand should sell hard”.  Demand for cows is strong in the mart with factory agents active around the ring. There is strong demand in our key export markets which is predicted to continue for the first half of 2022. The reopening of the food service sector over the coming weeks will increase demand both domestically and in our key export markets.

Beef Price Update 20/01/2022

Steer Base €4.30/4.45kg. Heifers €4.35/4.50kg. Higher deals larger lots. Y Bulls R/U €4.25/4.40Kg. Cows €3.60/4.10kg

Supply Figures as Reported by DAFM – Week 2  (10.01.2022)

AnimalNumberChange prev wk% of totalYTDYTD Change
Y Bulls3955▲92512%6985▼-356 
Bull312▼-613 1%1237▲623

Official Irish Prices as Reported by DAFM – Week 2  (10.01.2022)

c/kg (Incl. VAT)U3Change prev wkR3Changeprev wkO3Changeprev wkP+3Changeprev wk
Y Bulls443▲1432▼-2 420▲0411▼-3 
Cows0▲0399▼-4 375▲1360▲3

Official GB Prices as Reported by AHDB

 SteersSteersHeifersHeifersY bullY bullCow
Change▲1▼-1 ▲1▲0▼-1 ▲2▲1
Price in c/kg (Incl VAT)523.9524.7522.5523.9509.6504.6359.4

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

Country & Type201904.01.202101.01.2022
EU + Y BullsFigures€ 3.67€ 4.45
IE + SteersNot€ 3.55€ 4.31
UK + Steers Available€ 3.96€ 4.89

Live Exports W/C 10.01.2022

Source: Bord Bia

Sheep Update

IFA Sheep Chairman Sean Dennehy said the market conditions that underpinned the sheep trade for the past two years look set to continue for 2022. “Demand for sheep meat in China will continue to drive the global trade as New Zealand and Australia focus on supplying this lucrative market. Consumption of sheep meat in China has increased by 9% since 2018,” he said. This change in supply pattern has resulted in NZ filling only 46% of their EU quota, which is the lowest in decades.  This is increasing the opportunity for Irish exports. Sean Dennehy said the trade is predicted to hold steady over the coming months with supply and demand balanced, Easter and Ramadan in early April will be key drivers of the trade. Ongoing issues with UK access to the EU market will create openings for Irish lamb. The IFA Sheep Chairman said the relaxation to COVID-19 controls for the food service sector will increase demand for lamb in the domestic markets, and with COVID-19 cases falling, workforce issues will ease.

Lamb Price Update 20/01/2022

Lamb €6.60/6.90/kg. Higher deals groups/larger lots. Ewes €3.20/3.60/kg. Sell hard.

Supply Figures as Reported by DAFM – Week 2  (10.01.2022)

Spring Lambs0▲00▲0
Ewes and Rams6098▲2,3269870▼-3,318 
Light Lambs0▼-7 7▲0

Official Irish Prices as Reported by DAFM – Week 2  (10.01.2022)

c/kg (Incl. VAT)WK 2 Change prev wk2021Changeprev yr
National Avg Price693.45▼-9 597.68▲96
YTD Avg698.14▼-5 579.36▲119

Official GB Prices as Reported by AHDB

 R3L Overall SQQ*Type of lamb
08.01.2022615.8614.2Old season
15.01.2022603.0601.1Old season
Change▼-13 ▼-13  
Price in c/kg (Incl VAT)758.1755.7 
Source: Bord Bia

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