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Beef & Sheep Update 23rd February

Cattle and Sheep in Wicklow Field, Ireland

Beef Update

Livestock Chairman Declan Hanrahan said farmers should resist attempts by factories to reduce beef price. He said demand for beef is strong in our key export markets, with UK R3 steer prices now the equivalent of €6.17/kg. Live export demand is also positive with demand for finished cattle very strong particularly to Northern Ireland creating further competition for beef cattle. He said there is no justification for factories to reduce beef prices. Farmers have made serious investments in finishing cattle over the winter period and these attempts by factories to weaken price is unacceptable and must stop.

Beef Price Update 22/02/2024

Base Quotes Steer €5.10/5.20kg. Heifers €5.15/5.20kg. Higher deals and flat prices for larger and specialist lots. Y Bulls R/U €5.20/5.50Kg. Cows €4.20/5.00kg.

Supply Figures as Reported by DAFM – WK 07 18.02.2024)

AnimalNumberChange prev wk% of totalYTDYTD Change
Y Bulls2,966▲4568%21,358▼-2,163 

Official Irish Prices as Reported by DAFM – WK 07 (18.02.2024)

c/kg (Incl. VAT)U3Change prev wkR3Change prev wkO3Change prev wkP+3Change prev wk
Steers549▼-2 541▼-2 530▼-3 499▼-2 
Y Bulls538▲0527▲1511▼-2 505▲2
Cows0▲0479▲0432▼-4 412▼-3 

Official GB Prices as Reported by AHDB

 SteersSteersHeifersHeifersY bullY bullCow
Price in c/kg (Incl VAT)617.8621.4617.3620.1617.3620.1444.1

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

Country & Type29.01.202228.01.202303.02.2024
EU + Y Bulls€ 4.57€ 5.14€ 5.02
IE + Steers€ 4.33€ 5.21€ 5.19
UK + Steers € 4.91€ 5.27€ 5.78

Live Exports W/C 05.02.2024

Sheep Update

IFA Sheep Chairman Adrian Gallagher said lamb prices continue to move upwards as factories struggle to match supply with market demand. He said the Ramadan festival commences on March 11th followed by the Easter festival in April which is going to create very strong demand for lamb he said. Factories are paying up €7.80kg for lambs today with prices 10c/kg to 20c/kg above this achievable for larger and specialised lots. Total throughput to date is back 19,392 with over 18,500 or these lambs. Adrian Gallagher said farmers should sell hard be mindful of the mart outlet where prices are on par or above what factories are offering.

Lamb Price Update 22/02/2024

Lamb €7.60/7.80/kg. Weights to 23kg. Higher deals groups/larger lots. Ewes €3.30/3.60/kg.

Supply Figures as Reported by DAFM – WK 07 (18.02.2024)

AnimalFigureChangeYTDYTD Change
Spring Lambs0▲08,571▲8,571
Ewes and Rams4,793▲9235,154▼-9,330 
Light Lambs5▲018▼-4 

Official Irish Prices as Reported by DAFM – WK 07 (18.02.2024)

c/kg (Incl. VAT)This week Change prev. wk2023Change prev. yr
National Avg Price700.58▲20605.15▲95
YTD Avg675.94▲7616.27▲60

Official GB Prices as Reported by AHDB

 R3L Overall SQQ*Type of lamb
10/02/2024666.1662.2Old season lamb
17/02/2024695.0689.9Old season lamb
Price in c/kg (Incl VAT)853.4847.1 

Live Sheep Exports 2023

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