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Beef & Sheep Update 25th August

Sheep and Cattle in Wicklow

Beef Update

IFA National Livestock Chair Brendan Golden said the continued downward pressure applied by factories on beef prices in recent weeks is unacceptable and must stop. “The latest prime export benchmark price has now opened up a gap of 25c/kg with the prime Irish composite price and factories must move to close this gap immediately,” Brendan Golden said. “Prices in our key export markets have shown some signs of stabilizing and in cases strengthening in the past week and its clear factories are not returning prices the market justifies further eroding farmers’ incomes,” he added. “Farmers are getting increasingly frustrated with meat processors. They are also very disappointed at the failure of our Agricultural Minister and Government to put meaningful supports in place for the extremely vulnerable suckler and beef sectors,” he said. “IFA have consistently called for direct supports to be increased €300/suckler cow and €100/head cattle rearing and finishing payment, but the Minister has failed to provide this,” the IFA National Livestock Chair stated.

Beef Price Update 24/08/2023

Base Quotes Steer €4.60/4.70kg. Heifers €4.65/4.75kg. Higher deals and flat prices for larger and specialist lots. Y Bulls R/U €4.80/5.00Kg. Cows €3.80/4.40kg.

Supply Figures as Reported by DAFM – WK 33 (20.08.2023)

AnimalNumberChange prev wk% of totalYTDYTD Change
Y Bulls1388▲864%82868▼-10,233 
Veal-V10▼-23 0%30483▲2,507
Veal-Z12▼-17 0%1169▲16

Official Irish Prices as Reported by DAFM – WK 33 (20.08.2023)

c/kg (Incl. VAT)U3Change prev wkR3Change prev wkO3Change prev wkP+3Change prev wk
Steers496▼-3 485▼-4 470▼-5 438▼-3 
Heifers501▼-4 488▼-5 476▼-6 430▼-6 
Y Bulls487▼-7 476▼-3 451▼-5 436▼-12 
Cows0▲0439▲3401▼-3 387▼-1 

Official GB Prices as Reported by AHDB

 SteersSteersHeifersHeifersY bullY bullCow
Change▲1▼-3 ▲3▲1▲1▲1▼-2 

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

Country & Type14.08.202113.08.202212.08.2023
EU + Y Bulls€ 3.90€ 4.97€ 4.78
IE + Steers€ 4.23€ 4.80€ 4.66
UK + Steers€ 4.84€ 5.18€ 5.33

Live Exports W/C 14.08.2023

Source: Bord Bia

Sheep Update

IFA Sheep Chairman Kevin Comiskey said supplies of suitably fleshed lambs are tight on the ground. He said factories are very anxious for lambs offering various deals well above quoted prices to secure supplies. 

He said prices of €6.50kg and €6.60kg have become a lot easier to negotiate this week with higher deals available for groups and larger lots. Cull ewes are making from €2.70kg to €3.00kg in general. 

To date spring lamb throughput is back 62,758 head and with the recent poor weather conditions no surge of lambs is expected to come to market in the coming weeks. He said farmers should be mindful of the mart trade where prices for heavy fleshed lambs are exceeding factory prices in cases. 

Kevin Comiskey said factories are anxious for lambs and farmers should sell hard while moving lambs as they become fit.

Lamb Price Update 24/08/2023

Spring Lamb €6.30/6.60/kg. Higher deals groups/larger lots. Ewes €2.70/3.00/kg.

Supply Figures as Reported by DAFM – WK 33 (20.08.2023)

AnimalFigureChangeYTDYTD Change
Spring Lambs46018▲6,524607476▼-62,758 
Ewes and Rams8257▲1,921183699▼-19,398 
Light Lambs1▲1128▲21

Official Irish Prices as Reported by DAFM – WK 33 (20.08.2023)

c/kg (Incl. VAT)WK 33 Change prev. wk2022Change prev. yr
National Avg Price619.18▲6640.86▼-22 
YTD Avg676.72▼-2 709.95▼-33 

Official GB Prices as Reported by AHDB

 R3L Overall SQQ*Type of lamb
12/08/2023574.5574.3New season lamb
19/08/2023583.1580.7New season lamb
Price in c/kg (Incl VAT)716.0713.0 

Live Sheep Exports Jan-June

Source: Bord Bia

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