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Beef & Sheep Update 23rd September

Cattle and Sheep in field, Wicklow, Ireland

Beef Update

IFA National Livestock Chair Brendan Golden said attempts by factories to reduce quotes is unacceptable. He said beef farmers do not have the capacity to absorb the production cost increases associated with cattle finishing and factories must be stronger in the market place to reflect this in beef prices. The IFA National Livestock Chair said the Prime Export Benchmark Price for the latest week shows a price differential of 22c/kg with our beef price reflecting the returns available from our export markets for beef, there is clearly capacity in the market place to return higher prices and close this gap. He noted tight supplies and strong global demand for beef is underpinning the trade. Brendan Golden said winter finishers are in the process of making key decisions for the coming months, factories must reflect the realities of the current market in stronger prices now and offer winter finishers minimum price guarantees for their cattle for this Winter and next Spring.

Beef Price Update 22/09/2022

Steer Base €4.70/4.80kg. Heifers €4.75/4.85kg. Higher deals and flat prices for larger and specialist lots. Y Bulls R/U €4.70/5.00Kg. Cows €4.40/4.90kg.

Supply Figures as Reported by DAFM – WK 37 (18.09.2022)

AnimalNumberChange prev wk% of totalYTDYTD Change
Y Bulls1,476▼-80 4%99,121▲5,230
Heifer9,195▼-477 25%353,486▲19,696
Veal-V4▼-3 0%28,033▲7,294
Veal-Z18▼-16 0%1,241▲65

Official Irish Prices as Reported by DAFM – WK 37 (18.09.2022)

c/kg(Incl. VAT)U3Change prev wkR3Change prev wkO3Change prev wkP+3Change prev wk
Steers510▼-5 500▼-3 481▼-4 450▼-4 
Heifers515▼-6 503▼-4 492▼-3 451▲0
Y Bulls499▲0488▲0465▼-3 452▲1
Cows0▲0472▼-6 451▼-5 438▼-4 

Official GB Prices as Reported by AHDB

 SteersSteersHeifersHeifersY bullY bullCow
Change▲2▲1▼-1 ▲1▲2▼-1 ▲0
Price in c/kg (Incl VAT)553.8557.1550.7556.4541.8536.2462.5

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

Country & Type12.09.202011.09.202110.09.2022
EU + Y Bulls€ 3.51€ 3.98€ 4.99
IE + Steers€ 3.63€ 4.17€ 4.79
UK + Steers € 4.09€ 4.82€ 5.08

Live Exports W/C 12.09.2022

Source: Bord Bia

Sheep Update

IFA Sheep Committee Chairman Kevin Comiskey said stronger prices are needed now and throughout the back end of the year.  He said that farmers are hugely concerned in relation to increased costs of inputs and that looking at the current meal prices, factories will need to push on prices to ensure production systems are maintained throughout the year. The IFA Sheep chairman said that prices of €6.10/kg to  €6.50/kg are currently available to 22kgs with higher prices on offer for groups and larger lots. “The current lamb prices do not reflect the increased costs farmers have experienced this year and this cannot continue. Proper support and decent prices that reflect the costs associated with lamb production must come now and continue through the back end of the year” he said.  Cull ewes are in general moving between €3.40/kg and €3.70/kg, with some deals above these prices.

Lamb Price Update 22/09/2022

Lamb €6.10/6.50/kg to 22kg. Higher deals groups/larger lots. Ewes €3.40/3.70/kg.

Supply Figures as Reported by DAFM – WK 37 (18.09.2022)

AnimalFigureChangeYTDYTD Change
Lambs/Hoggets994▼-517 897,886▲201,143
Spring Lambs49,961▲4,324873,718▼-84,363 
Ewes and Rams13,219▼-338 251,151▲8,592
Light Lambs2▼-2 113▼-4 

Official Irish Prices as Reported by DAFM – WK 37 (18.09.2022)

c/kg (Incl. VAT)WK 37Change prev wk2021Change prev yr
National Avg Price613.18▲4588.26▲25
YTD Avg699.98▼-2 664.58▲35

Official GB Prices as Reported by AHDB

 R3L Overall SQQ*Type of lamb
10-Sep-22530.2527.7New season
17-Sep-22526.1523.6New season
Change▼-4 ▼-4  
Price in c/kg (Incl VAT)653.6650.5 

Live Sheep Exports 18/07/2022

Source: Bord Bia

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