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Beef & Sheep Update 29th September

Cattle and Sheep in field, Wicklow, Ireland

Beef Update

IFA Livestock Chair Brendan Golden said demand for beef in our key markets is driving prices as supplies remain tight. The most recent Kantar data for supermarket sales of beef in the UK shows spend on beef to be up over 11% year on year, with volumes holding firm. With tighter supplies of cattle in the UK, market prices have risen by 7p/kg in the past week. EU young bull prices have strengthened and when combined with the UK price in the Bord Bia Prime Export Benchmark Price, a gap of 37c/kg has opened up with our prices. Despite our price increasing over the past few weeks, these increases are not keeping pace with prices in our key markets and must move further and faster. “Factories can and must do more on beef price to reflect the reality of the market conditions they are selling into,” he said.The IFA livestock chairman said farmers should not be misled by negativity from factory agents, beef markets are strong, supplies are tight and there is capacity for further price increases from the market.

Beef Price Update 28/09/2023

Base Quotes Steer €4.65/4.80kg. Heifers €4.70/4.85kg. Higher deals and flat prices for larger and specialist lots. Y Bulls R/U €4.80/5.00Kg. Cows €3.90/4.60kg.

Supply Figures as Reported by DAFM – WK 38 (24.09.2023)

AnimalNumberChange prev wk% of totalYTDYTD Change
Y Bulls1,066▼-256 3%89,483▼-11,498 
Bull438▼-139 1%21,369▼-342 

Official Irish Prices as Reported by DAFM – WK 38 (24.09.2023)

c/kg (Incl. VAT)U3Change prev wkR3Change prev wkO3Change prev wkP+3Change prev wk
Steers504▲1492▲0473▼-1 445▲0
Y Bulls491▼-2 482▼-5 461▼-3 448▼-6 
Cows0▲0449▼-2 415▲0399▲1

Official GB Prices as Reported by AHDB

 SteersSteersHeifersHeifersY bullY bullCow
Change▲3▲6▲4▲3▲4▼-4 ▲6
Price in c/kg (Incl VAT)597.1604.1595.3600.0587.7578.7442.9

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

Country & Type25.09.202124.09.202216.09.2023
EU + Y Bulls€ 4.03€ 4.97€ 4.84
IE + Steers€ 4.18€ 4.71Not available
UK + Steers € 4.82€ 5.08Not available

Live Exports W/C 11.09.2023

Source: Bord Bia

Sheep Update

IFA National Sheep Chair Kevin Comiskey said the Minister for Agriculture Charlie McConalogue must come forward with a strong package of direct supports for sheep farmers in the Budget. He said IFA have highlighted to the Minister throughout this year the difficulties in the sector and sheep farmers will be anxiously watching this year’s budget to see if the Ministers words of support for the sector translate into meaningful funding commitments to offset the enormous income challenges on farms. Kevin Comiskey said IFA have out forward proposals in detail to the Minister, his Government colleagues and senior Department of Agriculture officials, including directly supporting store lamb finishers in recognition of the critical role they play for hill sheep farmers. The Minister cannot continue to ignore sheep farmers and the challenges in the sector, a strong meaningful targeted support package for sheep farmers in the upcoming budget is critical for the economic viability of the sector and to ensure we have generational renewal to protect our second largest farming sector in the country.

Lamb Price Update 22/09/2023

Spring Lamb €6.20/6.50/kg. Higher deals groups/larger lots. Ewes €2.70/3.10/kg.

Supply Figures as Reported by DAFM – WK 38 (24.09.2023)

AnimalFigureChangeYTDYTD Change
Lambs/Hoggets226▼-52 980,494▲81,397
Spring Lambs48,479▼-2,455 854,997▼-70,845 
Ewes and Rams10,140▲1,409228,370▼-35,544 
Light Lambs1▼-2 134▲20
TOTAL58,846▼-1,100 2,063,995▼-24,972 

Official Irish Prices as Reported by DAFM – WK 38 (24.09.2023)

c/kg (Incl. VAT)This week Change prev. wk2022Change prev. yr
National Avg Price615.16▼-2 616.07▼-1 
YTD Avg669.02▼-1 697.77▼-29 

Official GB Prices as Reported by AHDB

 R3L Overall SQQ*Type of lamb
16/09/2023547.9546.4New season lamb
23/09/2023553.3553.1New season lamb
Price in c/kg (Incl VAT)679.4679.2 

Live Sheep Exports Jan-June

Source: Bord Bia

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