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Beef & Sheep Update 26th May

Cattle and Sheep in Wicklow Field, Ireland

Beef Update

IFA Livestock Chairman Brendan Golden has strongly criticised attempts by factories to reduce beef prices. UK prices are steadily increasing and prices in our other key export markets remain strong and steady.  Supplies of finished cattle are tight with further reductions in numbers expected over the coming weeks and months, based on the Bord Bia supply projections. “The number of prime cattle is extremely tight and there’s no flush of grass cattle expected in the coming weeks due to the late spring, with further reductions in numbers anticipated in the coming weeks,” he said. He said demand for beef is strong and will increase further over the coming months as supplies tighten both here and in our key export markets. “Farmers are selling the most expensive cattle to produce at this time of year and must be rewarded for the investment they have made in ensuring factories have a consistent year-round supply of finished cattle,” he said. Brendan Golden said the attempts by factories to stop price increases by talking down the trade are not justified and are a cynical attempt to take confidence out of the trade.

Beef Price Update 25/05/2023

Base Quotes Steer €5.15/5.25kg. Heifers €5.20/5.30kg. Higher deals and flat prices for larger and specialist lots. Y Bulls R/U €5.20/5.40Kg. Cows €4.50/5.00kg.

Supply Figures as Reported by DAFM – WK 20 (21.05.2023)

AnimalNumberChange prev wk% of totalYTDYTD Change
Y Bulls2845▲4979%50402▼-8,731 
Bull693▼-5 2%10297▼-397 
Steer12272▼-167 38%239648▼-12,886 
Heifer8920▼-249 28%192934▼-10,396 
Veal-V1▼-3 0%30380▲2,550

Official Irish Prices as Reported by DAFM – WK 20 (21.05.2023)

c/kg (Incl. VAT)U3Changeprev wkR3Change prev wkO3Change prev wkP+3Change prev wk
Steers564▲1550▼-3 539▼-4 505▼-4 
Heifers569▼-1 554▼-3 544▼-5 495▼-3 
Y Bulls549▼-3 538▲0514▼-8 503▼-6 
Cows0▲0496▼-5 465▼-5 449▼-2 

Official GB Prices as Reported by AHDB

 SteersSteersHeifersHeifersY bullY bullCow
Change▲2▲2▲1▲2▲1▼-1 ▲2
Price in c/kg (Incl VAT)608.7613.3606.8611.5601.6599.9499.1

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

Country & Type08.05.2021202213.05.2023
EU + Y Bulls€ 3.81Figures€ 5.07
IE + Steers€ 4.11Not€ 5.27
UK + Steers € 4.69Available€ 5.70

Live Exports W/C 08.05.2023

Source: Bord Bia

Sheep Update

IFA Sheep Chairman Kevin Comiskey said hogget prices remain steady and as numbers tighten demand from factories for spring lamb will increase further.
He said hogget’s are trading between €7.20kg and 7.60kg with factories offering deals up to €8.10kg for spring lamb on weights to 23kg.
He said supplies of spring lamb are extremely tight running over 21,000/head or 25% behind last year’s levels to date with overall throughput fallen for the second consecutive week.
Cull ewes are making from €3.30kg to €3.80kg.
He said market conditions for sheep meat are strong and farmers should sell hard while moving hogget’s as they become fit.

Lamb Price Update 25/05/2023

Hogget €7.20/7.60/kg. Spr Lamb €7.90/8.10/kg. Higher deals groups/larger lots. Ewes €3.30/3.80/kg.

Supply Figures as Reported by DAFM – WK 20 (21.05.2023)

AnimalFigureChangeYTDYTD Change
Lambs/Hoggets24151▼-1,785 901506▲49,403
Spring Lambs19454▲3,88965151▼-21,970 
Ewes and Rams4642▼-902 105234▲327
Light Lambs4▲1103▲50

Official Irish Prices as Reported by DAFM – WK 20 (21.05.2023)

c/kg (Incl. VAT)WK 20Changeprev wk2022Change prev yr
National Avg Price748.99▼-2 765.48▼-16 
YTD Avg660.53▲5704.01▼-43 

Official GB Prices as Reported by AHDB

 R3L Overall SQQ*Type of lamb
13/05/2023679.9671.5Old season lamb
20/05/2023741.4742.9Old season lamb
Price in c/kg (Incl VAT)899.9901.7 

Live Sheep Exports 01.04.2023

Source: Bord Bia

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