Beef Update
Brendan Golden said the trade is underpinned by the continuing strong performance of the supermarket trade and tight supplies. He said the latest 12-week supermarket sales data, up to the end of December, is reflecting the ongoing increase in both sales of beef and value of beef.
The IFA Livestock Chairman said the Prime Export Benchmark Price has strengthened in the past week reflecting the market conditions in our key export markets. He said beef prices need to push on to reflect the positive market conditions that are prevailing.
Beef Price Update 21/1/21
Steer base €3.80/3.85kg. Heifers €3.85/3.90kg. Deals higher. Y Bulls €3.60/3.95kg. Cows €3.00/3.50kg.
Supply Figures as Reported by DAFM – Week 2 (11/01/21)
| Animal | Number | Change prev. wk. | % of total | YTD | YTD Change |
| Y Bulls | 3,587 | ▲4 | 11% | 7,170 | ▼-2,381 |
| Bull | 291 | ▼-28 | 1% | 610 | ▼-397 |
| Steer | 11,177 | ▲37 | 35% | 22,317 | ▲1,010 |
| Cow | 6,436 | ▲224 | 20% | 12,648 | ▲2,094 |
| Heifer | 10,445 | ▼-1,278 | 33% | 22,168 | ▲1,534 |
| Veal-V | 30 | ▲24 | 0% | 36 | ▲3 |
| Veal-Z | 24 | ▼-12 | 0% | 60 | ▲5 |
| Total | 31,990 | ▼-1,029 | 100% | 65,009 | ▲1,868 |
Official Irish Prices as Reported by DAFM – Week 2 (11/01/21)
| c/kg(Incl. VAT) | U3 | Change prev. wk | R3 | Change prev. wk | O3 | Change prev. wk | P+3 | Change prev. wk |
| Steers | 407 | ▼-4 | 396 | ▼-4 | 381 | ▼-2 | 350 | ▼-4 |
| Heifers | 415 | ▼-5 | 402 | ▼-3 | 390 | ▼-3 | 345 | ▼-1 |
| Y Bulls | 389 | ▼-1 | 377 | ▼-3 | 363 | ▼-3 | 355 | ▲0 |
| Cows | 0 | ▲0 | 333 | ▼-5 | 311 | ▼-3 | 297 | ▼-5 |
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 |
| 09/01/2021 | 378.7 | 380.9 | 378.5 | 381.2 | 368.8 | 364.8 | 256.4 |
| 16/01/2021 | 381.8 | 387 | 381.7 | 385 | 374.1 | 364.4 | 260.4 |
| Change | ▲3 | ▲6 | ▲3 | ▲4 | ▲5 | ▼-0 | ▲4 |
| Price in c/kg (Incl. VAT) | 453.0 | 459.2 | 452.9 | 456.8 | 443.9 | 432.4 | 309.0 |
Sheep Update
Sean Dennehy said the latest supermarket sales figures for 12-week period to end-December 2020 shows a volume increase of 14% and a price increase of 4% contributing to overall spend on lamb increasing by over 18% compared to 2019. He said lamb supplies are tight and market conditions are strong. There is no justification for factory price cuts. He advised farmers to sell hard with QA lambs making €6.35 to €6.50kg.
Lamb Price Update 21/01/21
QA Lamb €6.35/€6.50kg. Weights to 23kgs. Ewes €3.00/3.20kg.
Supply Figures as Reported by DAFM – Week 2 (11/01/2021)
| Animal | Number | Change prev. wk | YTD | YTD Change |
| Lambs/Hoggets | 45,634 | ▼-330 | 91,598 | ▲2,344 |
| Spring Lambs | 0 | ▲0 | 0 | ▲0 |
| Ewes and Rams | 6,798 | ▲408 | 13,188 | ▼-1,281 |
| Light Lambs | 1 | ▼-5 | 7 | ▲7 |
| TOTAL | 52,433 | ▲73 | 104,793 | ▲1,070 |
Official Irish Prices as Reported by DAFM – Week 2 (11/01/21)
| c/kg (Incl. VAT) | WK 2 | Change prev. wk | 2020 | Change prev. yr |
| Avg Factory Price | 595.23 | ▲34 | 503.81 | ▲91 |
| Avg Mart Price | 585.75 | ▲27 | 450.47 | ▲135 |
| National Avg Price | 597.68 | ▲37 | 487.81 | ▲110 |
| YTD Avg | 579.36 | ▲18 | 475.73 | ▲104 |
Official GB Prices as Reported by AHDB
| R3L | Overall SQQ* | Type of lamb | |
| 09.01.2021 | 517.2 | 518.6 | Old season |
| 16.01.2021 | 569.1 | 568.8 | Old season |
| Change | ▲52 | ▲50 | |
| Price in c/kg (Incl. VAT) | 675.2 | 674.9 |
