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Beef & Sheep Update 22nd November

Cattle and Sheep in Wicklow field

Beef Update

IFA Livestock Chairman Declan Hanrahan said cattle prices move upwards as supplies tighten on the ground. He said factories are struggling to secure numbers of cattle to fill orders and are paying 5c/kg to 10c/kg above quotes to tie down deals this week as demand strengthens. Demand at mart sales has also intensified as factories source cattle for next day processing and increased demand from live exporters for cattle for NI and international markets is adding further competition to the trade. Prices in our key markets are strengthening pointing to strong and favourable conditions which must be returned with higher beef prices.  Factories are paying €5.30kg to €5.40kg for steers while heifers are making from €5.35kg to €5.45kg. Young Bulls R and U grades are making from €5.40kg to €5.60kg. Cow prices are ranging €4.50kg for P grades up to €5.20kg for U grades. 

Beef Price Update 22/11/2024

Base Quotes Steer €5.30/5.40kg. Heifers €5.35/5.45kg. Higher deals and flat prices for larger and specialist lots. Y Bulls R/U €5.40/5.60Kg. Cows €4.50/5.20kg.

Supply Figures as Reported by DAFM – WK 46 (17.11.2024)

AnimalNumberChange prev wk% of totalYTDYTD Change
Y Bulls2,070▲4945%93,553▼-8,826 
Bull449▼-30 1%25,897▲580
Steer14,594▼-42 37%613,068▼-11,205 
Cow10,078▲2225%388,573▲29,749
Heifer12,369▲41231%455,802▲22,097
Veal-V193▲1430%20,605▼-10,101 
Veal-Z102▲650%1,710▲254
Total39,855▲1,064100%1,599,208▲3,665

Official Irish Prices as Reported by DAFM – WK 46 (17.11.2024)

c/kg (Incl. VAT)U3Change prev wkR3Change prev wkO3Change prev wkP+3Change prev wk
Steers560▼-6 554▲8545▲12511▲5
Heifers567▲5557▲5554▲9506▲8
Y Bulls556▲6549▲8535▲10531▲19
Cows0▲0509▲3480▲4461▲6

Official GB Prices as Reported by AHDB

 SteersSteersHeifersHeifersY bullY bullCow
p/kgR3R4LR3R4LR3R4L-O4L
09/11/2024527.8526.6525.852.1516.1516.4375.3
16/11/2024532.0535.7531.6534.3516.2513.2378.1
Change▲4▲9▲512▲482▲0▼-3 ▲3
Price in c/kg (Incl VAT)668.8673.5668.3671.7648.9645.2475.3

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

Country & Type12.11.202211.11.202316.11.2024
EU + Y Bulls€ 5.10€ 4.88€ 5.49
IE + Steers€ 4.59€ 4.61€ 5.29
UK + Steers € 5.10€ 5.51€ 6.25

Live Cattle Exports 4th November

Source: Bord Bia

Sheep Update

IFA Sheep Chairman Adrian Gallagher said demand for lamb is intensifying as numbers continue to drop off. He said spring lamb throughput fell over 3,800 head for the latest week highlighting the tightening supply of lambs on the market. Total spring lamb throughput is running over 137,00 head behind the same period last year. Factories are offering deals from €7.80kg to €8.10kg with deals up to €8.25 secured for larger and specialised lots this week. Factories are also offering various deals on weights and transport to secure lambs. Market conditions for sheep meat are favourable in our key export markets. Uk and French markets have been steadily rising in the run up to the Christmas on the back of tight supplies and this must be reflected in prices offered by factories. He said factories are very anxious for lambs, supplies are projected to remain tight in the coming weeks and farmers should sell hard while moving lambs as they become fit. 

Lamb Price Update 22/11/2024

Spring Lamb €7.80kg/8.10kg. Up to €8.25 paid. Weights to 24kg. Higher deals groups/larger lots. Ewes €3.80/4.20/kg.

Supply Figures as Reported by DAFM – WK 46 (17.11.2024)

AnimalFigureChangeYTDYTD Change
Lambs/Hoggets1,264▲1,200899,125▼-85,316 
Spring Lambs32,646▼-3,888 1,112,254▼-137,459 
Ewes and Rams3,807▼-634 249,898▼-49,823 
Light Lambs2▲0116▼-33 
TOTAL37,719▼-3,322 2,261,493▼-272,531 

Official Irish Prices as Reported by DAFM – WK 46 (17.11.2024)

c/kg (Incl. VAT)This week Change prev. wk2023Change prev. yr
National Avg Price755.07▲8630.58▲125
YTD Avg774.29▼-0 662.54▲112

Official GB Prices as Reported by AHDB

 R3L Overall SQQ*Type of lamb
09/11/2024626.7625.2New season Lamb
16/11/2024651.5648.6New season Lamb
Change▲25▲23 
Price in c/kg (Incl VAT)800.0796.41

Live Sheep Exports 15th October

Source: Bord Bia

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