Beef & Sheep Update 23rd April

Beef Update

At a recent meeting with Meat Industry Ireland (MII), IFA called for all meat processors to offer Electronic Funds Transfer (EFT) as a method of payment to farmers for cattle and sheep sales. IFA President Tim Cullinan has written to all MII requesting all its members offer the EFT facility to farmers selling animals. “The recent announcement that one of MII’s members will offer EFT is a positive move and we are now requesting that all other processors provide the same facility,” he said. IFA National Livestock Chairman Brendan Golden said it’s imperative and long overdue that EFT is offered by all meat processors, citing the COVID-19 pandemic as an example of why we need to move forward with this.

Beef Price Update 22/04/21

Steer base €4.00/4.10kg. Heifers €4.10/4.20kg. Higher deals. Market strong. Y Bulls R/U €4.00/4.20kg. Cows €3.20/3.70kg

Supply Figures as Reported by DAFM – Week 15 (12.04.2021)

Animal	Number	Change prev. wk.	% of total	YTD	YTD Change
Y Bulls	2180	▲14	7%	44282	▼-15,540
Bull	497	▼-117	2%	6574	▼-2,191
Steer	11340	▼-260	37%	170164	▼-12,090
Cow	6626	▲720	22%	92981	▼-4,059
Heifer	8966	▲472	30%	144038	▼-20,162
Veal-V	708	▲28	2%	19783	▼-4,644
Veal-Z	73	▲41	0%	640	▲59
Total	30390	▲898	100%	478462	▼-58,627

Official Irish Prices as Reported by DAFM – Week 15 (12.04.2021)

c/kg (Incl. VAT)	U3	Changeprev wk	R3	Changeprev wk	O3	Changeprev wk	P+3	Changeprev wk
Steers	432	▲7	420	▲8	403	▲7	374	▲6
Heifers	437	▲8	423	▲6	408	▲6	364	▲4
Y Bulls	414	▲9	402	▲8	388	▲10	383	▲13
Cows	0	▲0	364	▲8	340	▲5	331	▲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
10.04.2021	404.2	408.8	404.5	408.6	400.6	402.3	290.3
17.04.2021	408.4	413.8	409.4	414.6	406.1	407.1	295.6
Change	▲4	▲5	▲5	▲6	▲6	▲5	▲5
Price in c/kg(Incl VAT)	495.7	502.3	496.9	503.2	492.9	494.1	358.8

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

Country & Type	13.04.2019	11.04.2020	10.04.2021
EU + Y Bulls	€ 3.61	€ 3.44	€ 3.77
IE + Steers	€ 3.65	€ 3.45	€ 3.90
UK + Steers	€ 3.99	€ 3.79	€ 4.64

Live Exports W/C 05.04.2021

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Sheep Update

IFA Sheep Chairman Sean Dennehy said market conditions for sheep meat are favourable, underpinned by strong supermarket performance, tight supplies and reduced volumes of imported lamb in our key markets. Total lamb imports to the EU 27 and the UK from New Zealand are down 23% year on year, with EU 27 down 27% and the UK down 20%. The sales of lamb in supermarkets continues to perform strongly, increasing in volume and value by 12% and 6% respectively for the latest 12-week period. Last week’s kill at just under 48,000 was 3,000 below the corresponding week in 2020, with the total numbers processed this year almost 60,000 below last year’s levels.

Lamb Price Update 22/04/21

QA Hoggets €7.80/8.00kg. Spring Lamb €7.70/8.30kg. Higher deals for groups and larger lots. Strong demand. Ewes €3.20/3.50kg.

Supply Figures as Reported by DAFM – Week 15 (12.04.2021)

Animal	Figure	Change	YTD	YTD Change
Lambs/Hoggets	37573	▲6,138	597306	▼-51,140
Spring Lambs	5245	▲2,748	9132	▲2,946
Ewes and Rams	4999	▲977	78102	▼-10,266
Light Lambs	5	▲2	90	▲72
TOTAL	47822	▲9,865	684630	▼-58,388

Official Irish Prices as Reported by DAFM – Week 15 (12.04.2021)

c/kg(Incl. VAT)	Week 15	Changeprev wk	2020	Changeprev yr
National Avg Price	779.25	▲21	547.17	▲232
YTD Avg	661.67	▲8	511.13	▲151

Official GB Prices as Reported by AHDB

	R3L	Overall SQQ*	Type of lamb
10.04.2021	648.2	646	Old season
17.04.2021	683.9	679.5	Old season
Change	▲36	▲34
Price in c/kg(Incl VAT)	830.1	824.8