Beef & Sheep UpdateCattleCattle PricesSheepSheep Prices

Beef & Sheep Update 21st October

Cattle and Sheep in field, Wicklow, Ireland

Beef Update

IFA Livestock Chairman Brendan Golden said factories are not reflecting the strength of the market in prices paid to farmers. He said the latest Prime Export Benchmark price is 27c/kg ahead of the Prime Irish composite price, reflecting the strength of the market. “Prices in the UK and EU have strengthened over the past week and factories must come forward with higher prices that return the full value of the current market,” he said. He said increasing production costs are now at a level that cattle finishers cannot risk and the sector does not have the capacity to absorb these. Strong beef prices over the coming months are vital to deal with these costs. “Attempts by some factories to talk down the trade is unjustified and there is up to 10c/kg of a difference between quoted and paid prices this week,” he said. Brendan Golden said there is no justification for prices lagging 27c/kg behind the Prime Export Benchmark price and weakening prices will not be tolerated by farmers. The IFA Livestock Chairman said market conditions are favourable. Farmers should reject lower quotes offered by factories and sell hard as cattle become fit.

Beef Price Update 20/10/2022

Steer Base €4.60/4.75kg. Heifers €4.65/4.80kg. Higher deals and flat prices for larger and specialist lots. Y Bulls R/U €4.50/4.80Kg. Cows €4.10/4.60kg.

Supply Figures as Reported by DAFM – WK 41 (16.10.2022)

AnimalNumberChange prev wk% of totalYTDYTD Change
Y Bulls2,005▲4185%106,130▲6,018
Heifer10,936▼-133 27%395,153▲21,293
Veal-V11▼-51 0%28,152▲7,312
Veal-Z16▼-42 0%1,345▲104

Official Irish Prices as Reported by DAFM – WK 41 (16.10.2022)

c/kg (Incl. VAT)U3Change prev wkR3Change prev wkO3Change prev wkP+3Change prev wk
Steers496▼-5 484▼-5 465▼-5 435▼-6 
Heifers504▼-1 490▼-3 478▼-3 435▼-1 
Y Bulls477▼-10 468▼-8 452▼-4 438▼-5 
Cows0▲0455▼-5 431▼-7 413▼-10 

Official GB Prices as Reported by AHDB

 SteersSteersHeifersHeifersY bullY bullCow
Change▲0▲1▲0▲3▼-4 ▼-8 ▼-4 
Price in c/kg (Incl VAT)543.4547.9541.7548.6530.7525.0445.8

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

Country & Type03.10.202002.10.202101.10.2022
EU + Y Bulls€ 3.52€ 4.06€ 4.97
IE + Steers€ 3.62€ 4.17€ 4.68
UK + Steers € 4.09€ 4.82€ 4.95

Live Exports W/C 03.10.2022

Source: Bord Bia

Sheep Update

IFA Sheep Chairman Kevin Comiskey said lamb prices have started to rise, with an additional 5c/kg to 10c/kg on offer for lambs. He said lambs are making from €6.10/kg to €6.45/kg on weights to 22kg, with higher deals for groups and larger lots. “Mart sales have also improved. Agents and wholesalers are very active and competing strongly for the limited number of fleshed lambs available where prices are comparable to what factories are offering in some instances,” he said. Kevin Comiskey said factories must now come forward and do more to support sheep farmers at this critical time and ensure increased production costs on sheep farms are reflected in higher prices paid to farmers. Cull ewes are making €3.00/kg to €3.30/kg in general, with some prices pushing up to €3.50/kg. The IFA Sheep Chairman said farmers should sell hard and avoid selling underweight lambs to maximise returns.

Lamb Price Update 20/10/2022

Lamb €6.10/6.45/kg to 22kg. Higher deals groups/larger lots. Ewes €3.00/3.50/kg.

Supply Figures as Reported by DAFM – WK 41 (16.10.2022)

AnimalFigureChangeYTDYTD Change
Lambs/Hoggets880▼-64 900,755▲203,314
Spring Lambs52,167▼-617 1,031,081▼-80,814 
Ewes and Rams12,419▲972287,422▲15,108
Light Lambs19▲17118▼-3 

Official Irish Prices as Reported by DAFM – WK 41 (16.10.2022)

c/kg (Incl. VAT)WK 41 Change prev wk2021Change prev yr
National Avg Price610.93▲2619.24▼-8 
YTD Avg691.44▼-2 659.13▲32

Official GB Prices as Reported by AHDB

 R3L Overall SQQ*Type of lamb
08-Oct-22522.7519.9New season
15-Oct-22527.5524.1New season
Price in c/kg (Incl VAT)640.3636.1 

Live Sheep Exports 18/07/2022

Source: Bord Bia

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