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Beef & Sheep Update 29th July

Cattle and Sheep in Wicklow Field, Ireland

Beef Update

IFA Livestock chairman Brendan Golden said market conditions are favourable for beef as prices in our key export markets stabilise and in cases strengthen and when aligned with the tighter supplies of suitably finished cattle is adding to the increased demand from factories for cattle this week. He said cattle supplies off grass are expected to remain steady and with cattle throughput operating very strongly in Northern there is an expected increase in demand for exports of forward store and finished cattle as the year progresses. He said there is room for stronger beef price returns in the market place with the Irish Prime Composite Price at €4.82/kg now a full 19c/kg below the Prime Export Benchmark Price of €5.01c/kg. He said attempts by factories earlier this week to reduce quotes further did not succeed and as the week has progressed prices offered to secure cattle increased, €4.90/kg and €5.00/kg has been offered to secure steers and heifers with higher prices for larger and specialist lots despite lower quotes.

Beef Price Update 28/07/2022

Steer Base €4.80/5.00/kg. Heifers €4.85/5.05/kg. Higher deals and flat prices for larger and specialist lots. Y Bulls R/U €4.70/5.05Kg. Cows €4.40/5.00kg.

Supply Figures as Reported by DAFM – WK 29 (24.07.2022)

AnimalNumberChange prev wk% of totalYTDYTD Change
Y Bulls2,598▼-57 8%86,003▲4,011
Bull605▼-50 2%16,054▲1,198
Cow7,826▼-113 23%229,282▲34,122
Veal-V1▼-2 0%27,915▲7,304

Official Irish Prices as Reported by DAFM – WK 29 (24.07.2022)

c/kg (Incl. VAT)U3Changeprev wkR3Changeprev wkO3Changeprev wkP+3Change prev wk
Steers523▼-7 513▼-7 497▼-11 465▼-5 
Heifers533▼-6 517▼-8 507▼-8 461▼-9 
Y Bulls520▼-4 508▼-4 479▼-3 462▼-7 
Cows0▲0486▲0460▼-5 449▼-4 

Official GB Prices as Reported by AHDB

 SteersSteersHeifersHeifersY bullY bullCow
Change▼-2 ▼-2 ▼-2 ▼-2 ▼-3 ▼-0 ▼-2 
Price in c/kg (Incl VAT)560.2566.7559.3566.3550.0552.1473.2

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

Country & Type25.07.2020202123.07.2022
EU + Y Bulls€ 3.51Data€ 4.91
IE + Steers€ 3.73Not€ 4.86
UK + Steers € 4.03Available€ 5.14

Live ExportsW/C 11.07.2021

Sheep Update

IFA Sheep Committee chair Kevin Comiskey said supplies of suitably finished lambs are tight on the ground and the lower kill out rates this year has reduced the volumes of sheep meat being processed. He said despite persisting in lowering quotes factories are anxious for lambs and offering various deals on transport and other charges to entice sellers, bringing prices up to the equivalent of €6.90 to €7.00/kg in some deals. He said factories must recognise the costs of production sheep farmers are facing this year and reflect it in lamb prices. He said the behaviour over the past few weeks and this week in particular only serves to undermine confidence in the sector. He said store lamb sales have started out well but it is critical farmers see a commitment from factories to return strong lamb prices to underpin this trade.. He said tight supplies of well fleshed lambs has increased competition between butchers and wholesalers in some marts adding to the pressures on factory agents to secure supplies.

Lamb Price Update 28/07/2022

Lamb €6.60/6.80/kg. Higher deals groups/larger lots. Ewes €3.60/4.00/kg.

Supply Figures as Reported by DAFM – WK 29 (24.07.2022)

AnimalFigureChangeYTDYTD Change
Lambs/Hoggets443▼-311 893,196▲198,169
Spring Lambs48,128▲3,468482,638▼-70,167 
Ewes and Rams7,957▼-701 167,829▼-1,115 
Light Lambs7▲2104▼-1 

Official Irish Prices as Reported by DAFM – WK 29 (24.07.2022)

c/kg (Incl. VAT)WK 29 Change prev wk2021Change prev yr
National Avg Price683.56▼-35 615.89▲68
YTD Avg719.16▼-1 681.51▲38

Official GB Prices as Reported by AHDB

 R3L Overall SQQ*Type of lamb
16/07/2022637.7639.1New season
23/07/2022621.7622.5New season
Change▼-16 ▼-17  
Price in c/kg (Incl VAT)781.6782.6 

Live Sheep Exports 2022 18/07/2022

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