Beef & Sheep Update 23rd July

Beef Update

IFA Livestock committee chairman Brendan Golden said there is good competition between factories. Tight supplies are driving demand with throughput 67,000 less than for the same period in 2020. Bord Bia predict this trend to continue up to the end of the year with yearly supplies expected to be back 120,000 head on 2020. Bullocks are making €4.25 to €4.35/kg, heifers €4.30 to €4.40/kg and Young bulls R/U grades €4.25 to €4.40/kg. Demand for cows is also strong, prices of up to €4.00/kg are being achieved for R and U grades with P grades starting at €3.60/kg, O grades making €3.70 to €3.80/kg in most factories. Conditions in our key export markets are strengthening as prices in the UK and EU have seen steady increases.

Beef Price Update 22/07/2021

Steer base €4.25/4.35kg. Heifers €4.30/4.40kg. Higher deals larger lots. Y Bulls R/U €4.30/4.40kg. Cows €3.60/4.00kg.

Supply Figures as Reported by DAFM – Week 28 (12.07.2021)

Animal	Number	Change prev. wk.	% of total	YTD	YTD Change
Y Bulls	2,047	▼-321	6%	79,846	▼-14,044
Bull	544	▼-34	2%	14,210	▼-3,837
Steer	13,997	▲1,140	42%	316,952	▼-14,414
Cow	8,276	▲941	25%	187,779	▼-483
Heifer	8,709	▼-152	26%	254,419	▼-28,644
Veal-V	6	▼-1	0%	20,581	▼-5,812
Veal-Z	22	▲2	0%	1,019	▲108
Total	33,601	▲1,575	100%	874,806	▼-67,126

Official Irish Prices as Reported by DAFM – Week 28 (12.07.2021)

c/kg (Incl. VAT)	U3	Change prev wk	R3	Change prev wk	O3	Change prev wk	P+3	Changeprev wk
Steers	460	▲2	450	▲1	436	▲2	408	▲2
Heifers	468	▲2	455	▲2	445	▲1	402	▲3
Y Bulls	451	▲4	437	▲0	415	▼-3	404	▼-12
Cows	0	▲0	392	▲1	370	▲2	360	▲1

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
10.07.2021	405.8	409.7	406.2	409	402.4	400.8	309.1
03.07.2021	405.3	409	404.3	408.2	400.5	399.6	309.5
Change	▲2	▲1	▲2	▲2	▲2	▲2	▲2
Price in c/kg(Incl VAT)	506.9	510.6	507.6	511.1	501.8	500.8	386.2

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

Country & Type	13.07.2019	11.07.2020	10.07.2021
EU + Y Bulls	€ 3.48	€ 3.49	€ 3.86
IE + Steers	€ 3.59	€ 3.66	€ 4.25
UK + Steers	€ 3.70	€ 4.07	€ 4.71

Live Exports W/C 05.07.2021

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Sheep Update

IFA Sheep committee chairman Sean Dennehy said prices are steady following the increased market demand during Eid al-Adha festival which concludes today. Demand for factory fit lambs will remain strong as supplies will be limited following the earlier selling of lighter lambs in the past few weeks. Factories are paying €6.30 to €6.40/kg for lambs. The reopening of indoor dining will also contribute to driving the trade on. Store sales and the commencement of breeding sales over the coming weeks will add further competition to the trade. Ewes are in good demand in both the factory and the mart, factory prices are ranging from €3.30 to €3.60/kg. 

Lamb Price Update 22/07/21

Spring Lamb €6.30/6.40/kg. Higher deals groups and larger lots. Good Demand. Sell Hard. Ewes €3.30/3.60kg.

Supply Figures as Reported by DAFM – Week 28 (12.07.2021)

Animal	Figure	Change	YTD	YTD Change
Lambs/Hoggets	442	▼-70	694,812	▼-91,409
Spring Lambs	71,628	▲21,636	497,589	▲21,104
Ewes and Rams	5,861	▼-2,056	160,193	▼-19,089
Light Lambs	0	▲0	105	▲64
TOTAL	77,931	▲19,510	1,352,699	▼-89,330

Official Irish Prices as Reported by DAFM – Week 28 (12.07.2021)

c/kg(Incl. VAT)	WK 28	Change prev wk	2020	Change prev yr
National Avg Price	633.17	▲13	529.01	▲104
YTD Avg	683.86	▼-2	528.73	▲155

Official GB Prices as Reported by AHDB

	R3L	Overall SQQ*	Type of lamb
26/06/2021	544.9	546.4	New season
03/07/2021	548.7	548.5	New season
Change	▲4	▲2
Price in c/kg (Incl VAT)	681.7	681.4