Beef & Sheep UpdateCattleCattle PricesSheepSheep Prices

Beef & Sheep Update 24th December

Cattle and Sheep in Wicklow Field, Ireland

Beef Update

The average price paid for R3 steers for the first 48 weeks of the year was €4.28/kg which is 46c/kg higher than the same period in 2020. Steer prices are 14% higher than they were in 2020, and 21% above the corresponding week in 2019. Global prices are strong, and across Europe, average R3 young bull prices have seen very strong growth rates in recent weeks. The Prime Irish composite price to-date this year increased by 12.6% on 2020 to €4.00/kg excl. vat, (€4.22/kg vat incl.) The Prime Export Benchmark price increased by 12.9% to €4.00/kg. Total cattle throughput has reached 1,643,719 up to week 50 of 2021. This is a 5% decline on 2020 figures. The overall reduction in supplies of 79,947 is running below the Bord Bia predicted decrease in supplies for the year and indicate the earlier slaughter of some animals which should contribute to tighter supplies in the early part of 2022.

Beef Price Update 23/12/21

Steer Base €4.25/4.40kg. Heifers €4.30/4.45kg. Higher deals larger lots. Y Bulls R/U €4.20/4.40Kg. Cows €3.50/4.00kg.

Supply Figures as Reported by DAFM  – Week 50  (13.12.2021)

AnimalNumberChange prev. wk.% of totalYTDYTD Change
Y Bulls3,500▲15110%124,609▼-9,260 
Steer11,290▼-207 32%658,543▼-16,261 
Cow8,636▼-351 25%344,995▼-8,730 
Heifer10,271▼-204 30%466,976▼-33,797 
Veal-Z27▼-25 0%1,613▲71

Official Irish Prices as Reported by DAFM –  Week 50  (13.12.2021)

c/kg (Incl. VAT)U3Change prev. wk.R3Change prev. wk.O3Change prev. wk.P+3Change prev. wk.
Y Bulls438▼-1 430▲1418▲2409▲9

Official GB Prices as Reported by AHDB

 SteersSteersHeifersHeifersY bullY bullCow
Change▼-4 ▼-1 ▼-4 ▼-2 ▼-2 ▼-5 ▼-1 
Price in c/kg (Incl VAT)513.1520.7512.0517.4500.9493.3346.1

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

Country & Type21.12.202119.12.202018.12.2021
EU + Y Bulls€ 3.64€ 3.63€ 4.39
IE + Steers€ 3.52€ 3.74€ 4.26
UK + Steers € 3.96€ 4.10€ 4.80

Live Exports W/C 13.12.2021

Source: Bord Bia

Sheep Update

Lamb prices in 2021 have performed well, with the average lamb price of €7.33/kg, up €1.48/kg on the 2020 average price for the first 48 weeks of the year or a 27% increase. Market demand for lamb in our key export markets has been strong due to the reduced volumes of New Zealand lamb. NZ imports to the EU are at the lowest levels in decades from a combination of focusing on the strong demand in China for sheep meat and shipping issues. Lamb prices in all the key lamb producing countries have remained strong throughout the year. Total throughput to week 50 is 2,639,281 head which is a 4% decrease when compared to the same period in 2020. Stronger lamb throughput in recent weeks has brought the Spring lamb kill to 5,558 above the same period in 2020.

Lamb Price Update 23/12/21

Lamb €7.20/7.30/kg. Higher deals groups/larger lots. Weights to 23kgs. Ewes €3.10/3.55/kg. Sell hard.

Supply Figures as Reported by DAFM – Week 50  (13.12.2021)

Spring Lambs53,760▲1291,594,480▲10,957
Ewes and Rams6,706▲944346,584▼-26,531 
Light Lambs1▼-2 133▲68

Official Irish Prices as Reported by DAFM – Week 50  (13.12.2021)

c/kg (Incl. VAT)This week Change prev. wk2020Change prev. yr
National Avg Price709.00▼-0 533.24▲176
YTD Avg662.08▲0518.48▲144

Official GB Prices as Reported by AHDB

 R3L Overall SQQ*Type of lamb
11.12.2021633.1631.8New season
18.12.2021623.8620.4New season
Change▼-9 ▼-11  
Price in c/kg (Incl VAT)775.0770.8 

Total Live Sheep Exports 12/10/2021

Source: Bord Bia

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