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Beef & Sheep Update 28th July

Cattle and Sheep in Wicklow Field, Ireland

Beef Update

IFA National Livestock Chair Brendan Golden said market developments over the past few weeks are at odds with the negative and unnecessary messages coming from factories and their agents on beef price. 

He said over the past three weeks the Bord Bia Prime Export Benchmark Price has steadied and strengthened, moving 16c/kg above our price. This movement in the Export Tracker is a clear indication of market conditions in our key beef markets, the UK and the EU, and must be reflected in beef prices by factories.

The IFA National Livestock Chair said opportunism by factories on beef price will not be tolerated by farmers who are incurring unprecedented costs in producing beef to the highest standards in the world.

Brendan Golden said supplies of finished cattle are tightening considerably on the ground with throughput over recent weeks dropping by 1,400 head. Based on supply projections for the year, there will be over 30,000 fewer cattle available to factories over the coming months.

“Farmers should not buy into the factory narrative on price.  Very few cattle have been bought at this week’s lower quotes and it is important farmers take back control and sell hard.”

Beef Price Update 27/07/2023

Base Quotes Steer €4.70/4.80. Heifers €4.75/4.90kg. 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 29 (23.07.2023)

AnimalNumberChange prev wk% of totalYTDYTD Change
Y Bulls1,630▼-244 5%76,662▼-9,341 
Bull659▼-14 2%16,060▲6
Cow7,096▼-595 22%220,995▼-8,287 
Heifer8,465▼-440 27%271,407▼-8,404 
Veal-V2▼-7 0%30,435▲2,520
Veal-Z9▼-19 0%1,102▲14
Total31,604▼-362 100%962,745▼-34,771 

Official Irish Prices as Reported by DAFM – WK 29 (23.07.2023)

c/kg (Incl. VAT)U3Change prev wkR3Change prev wkO3Change prev wkP+3Change prev wk
Steers522▲0507▼-5 492▼-5 458▼-5 
Heifers526▼-7 510▲9501▼-7 453▼-8 
Y Bulls516▲0497▼-4 473▼-7 466▲5
Cows0▲0456▲4414▼-3 400▼-3 

Official GB Prices as Reported by AHDB

 SteersSteersHeifersHeifersY bullY bullCow
Change▼-4 ▼-4 ▼-2 ▼-5 ▼-7 ▼-4 ▼-19 
Price in c/kg (Incl VAT)589.6595.0589.6591.9573.3574.5463.6

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

Country & Type17.07.2021202215.07.2023
EU + Y Bulls€ 3.84Figures€ 4.93
IE + Steers€ 4.26Not € 4.88
UK + Steers€ 4.77Available€ 5.51

Live Exports W/C 03.07.2023

Source: Bord Bia

Sheep Update

IFA Sheep Chairman Kevin Comiskey said sheep farmers have the strongest case of all sectors for inclusion in the EU Commission support package for Irish farmers.

The IFA Sheep Chairman was speaking following a meeting with Minister for Agriculture Charlie McConalogue where the realities of the crisis in the sheep sector were again highlighted to him.

“Sheep farmers last year operated off a margin of €7/ewe and to-date this year have lost €15 a ewe from the market place, putting sheep farmers into a severe loss-making situation,” he said.

Prices this year are running over 40c/kg behind last year’s levels and the recent price cuts by factories have compounded the situation.

The IFA Chairman said the new package of support announced by the EU Commission for Ireland of €9.5m can be supplemented by Government to bring this to €28.5m in total.“This package and the irrefutable case of sheep farmers for inclusion in the BAR fund creates two very significant funding sources the Minister has at his disposal to support sheep farmers,” he said.

Lamb Price Update 27/07/2023

Lamb €6.60/6.90/kg. Higher deals groups/larger lots. Ewes €2.70/2.90/kg.

Supply Figures as Reported by DAFM – WWK 29 (23.07.2023)

AnimalFigureChangeYTDYTD Change
Lambs/Hoggets1,373▼-501 976,675▲83,479
Spring Lambs44,027▼-1,348 426,013▼-56,625 
Ewes and Rams5,561▲88156,451▼-11,488 
Light Lambs1▼-2 126▲22
TOTAL50,962▼-1,763 1,559,265▲15,388

Official Irish Prices as Reported by DAFM – WK 29 (23.07.2023)

c/kg (Incl. VAT)WK 29Change prev wk2022Change prev yr
National Avg Price686.68▼-24 683.56▲3
YTD Avg683.14▲0719.16▼-36 

Official GB Prices as Reported by AHDB

 R3L Overall SQQ*Type of lamb
15/07/2023631.9631.0New season lamb
22/07/2023592.4592.2New season lamb
Change▼-40 ▼-39  
Price in c/kg (Incl VAT)736.0735.7 

Live Sheep Exports Jan-June

Source: Bord Bia

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