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Beef & Sheep Update 25th March

Cattle and Sheep in field, Wicklow, Ireland

Beef Update

IFA livestock chairman Brendan Golden said prices in our key export markets continue to push on. Beef prices in the UK have increased by between 7c/kg and 12c/kg in the latest week reflecting the strength of demand for beef. He said cattle prices here continue to edge upwards as factories actively seek out cattle fit for slaughter with particularly strong demand for cows continuing. Brendan Golden said competition between factory agents for forward store and finished cattle and cows in the marts is giving a clear indication of prices that are available from factories when pushed. He said there can be up to 10c/kg of a difference in quoted and paid prices in and between factories and it is crucial farmers sell hard to continue the upward momentum in price and close the gap with prices in our key markets.

Beef Price Update 24/03/2022

Steer Base €4.70/4.85kg. Heifers €4.75/4.90kg. Higher deals and flat prices for larger and specialist lots. Y Bulls R/U €4.60/4.90Kg. Cows €4.00/4.60kg.

Supply Figures as Reported by DAFM – Week 11 (14.03.2022)

AnimalNumberChange prev. wk.% of totalYTDYTD Change
Y Bulls1536▼-1,054 6%36723▲1,702
Bull372▼-193 1%5164▲792
Steer9140▼-4,237 35%130055▲6,809
Cow5617▼-2,492 21%80034▲11,464
Heifer7201▼-3,129 27%112590▲5,225
Veal-V2530▼-1,562 10%19600▲3,194
Veal-Z13▼-39 0%484▲8
Total26409▼-12,706 100%384650▲29,194

Official Irish Prices as Reported by DAFM – Week 11 (14.03.2022)

c/kg (Incl. VAT)U3Changeprev wkR3Changeprev wkO3Changeprev wkP+3Changeprev wk
Y Bulls486▲3475▲5456▲1440▲2

Official GB Prices as Reported by AHDB

 SteersSteersHeifersHeifersY bullY bullCow
Price in c/kg(Incl VAT)538.2539.8537.9540.6529.7526.5441.6

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

Country & Type14.03.202013.03.202112.03.2022
EU + Y Bulls€ 3.62€ 3.74€ 4.88
IE + Steers€ 3.69€ 3.80€ 4.65
UK + Steers € 3.85€ 4.49€ 4.98

Live Exports W/C 07.03.2022

Source: Bord Bia

Sheep Update

IFA Sheep committee chairman Kevin Comiskey said Ramadan and Easter demand for sheep meat is driving the trade. Despite factories attempts to hold back on significant price increases extremely tight supplies and strong farmer resistance to lower offered prices is forcing their hand.

Kevin Comiskey said hogget prices in NI and GB increased again over the past week.

He said the trade and the numbers of hoggets and cull ewes available justify stronger prices and farmers should keep an eye on mart sales where factory agents are paying more than what some factories are offering.

The IFA sheep chairman advised farmers to sell hard while moving hoggets that are fit.

Lamb Price Update 24/03/2022

Hogget €7.10/7.40/kg. Higher deals groups/larger lots. Spring lamb €7.60/8.00/kg Ewes €3.80/4.00/kg. Sell hard.

Supply Figures as Reported by DAFM – Week 11 (14.03.2022)

AnimalFigureChangeYTD YTD Change
Lambs/Hoggets33222▼-14,064 495670▲48,739
Spring Lambs554▲547561▲561
Ewes and Rams2308▼-2,128 57821▼-1,825 
Light Lambs1▲025▼-49 
TOTAL36085▼-15,645 554077▲47,426

Official Irish Prices as Reported by DAFM – Week 11 (14.03.2022)

c/kg (Incl. VAT)WK 11 Change prev wk2021Change prev yr
National Avg Price701.64▲13727.41▼-26 
YTD Avg679.73▲2630.93▲49

Official GB Prices as Reported by AHDB

 R3L Overall SQQ*Type of lamb
12.03.2022570.0565.1Old season
26.02.2022570.4566.9Old season
Price in c/kg (Incl VAT)725.7721.3 
Source: Bord Bia

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