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Beef & Sheep Update 2nd July

Beef Update

IFA Livestock Chairman Brendan Golden said tight supplies and strong market demand leaves factories under further pressure to secure suitable supplies of finished cattle. He said market conditions are strong as demand from the food service sector increases for the summer. He said steers are making €4.20/4.30kg with heifers making €4.25/4.40kg with higher deals for larger and specialist lots. The cow trade has moved upwards with deals of up to €4.00kg been secured. Cows ae generally ranging from €3.60/4.00kg. Young Bulls R/U €4.30/4.40kg. Bord Bia predict supplies of finished cattle to reduce up to 120,000 head this year leaving favorable conditions for finishers. Brendan Golden said farmers should sell hard as factories struggle to match supplies with market demand.

Beef Price Update 01/07/2021

Steer base €4.25/4.35kg. Heifer €4.25/4.40kg. Higher deals larger lots. Y Bulls R/U €4.30/4.40kg. Cows €3.60/4.00kg.

Supply Figures as Reported by DAFM  – Week 25 (27.06.2021)

AnimalNumberChange prev.wk.% of totalYTDYTD Change
Y Bulls2,470▼-706 8%72,976▼-12,704 
Bull455▼-85 2%12,637▼-2,833 
Veal-V1▼-36 0%20,546▼-5,799 
Veal-Z23▼-8 0%965▲126

Official Irish Prices as Reported by DAFM – Week 25 (27.06.2021)

c/kg (Incl. VAT)U3Change prev. wk.R3Change prev. wk.O3Change prev. wk.P+3Change prev. wk.
Y Bulls444▲4432▲4411▲8400▲8

Official GB Prices as Reported by AHDB

 SteersSteersHeifersHeifersY bullY bullCow
Price in c/kg (Incl VAT)492.4498.2493.1497.4487.2489.6377.7

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

Country & Type15.06.201913.06.202012.06.2021
EU + Y Bulls€ 3.55€ 3.50€ 3.87
IE + Steers€ 3.81€ 3.61€ 4.15
UK + Steers € 3.86€ 4.05€ 4.58

Live Exports W/C 27.06.2021

Sheep Update

IFA Sheep Chairman Sean Dennehy said demand for lamb is expected to improve over the coming weeks. Strong demand for live shipping and buying for the Eid Festival in mid-July is starting in earnest. Following this, breeding sales and store buying will increase competition for lambs. He said factories must stand firm in the market place. Irish lamb as it stands is competitively priced to compete in the market and there is no need or justification for further cuts. The IFA Sheep Committee will be meeting with factories in the coming days to set out farmers’ frustration at the recent attempts to severely undermine the trade and the need to maximise returns to sheep farmers from a favourable market environment. He said factories must take a stand.  “Farmers cannot continue to be expected to absorb higher production costs on the one hand while allowing the large supermarkets determine the price we receive,” he said. 

Lamb Price Update 01/07/21

Spring Lamb €6.10/6.40/kg. Factories buying for EID. Demand Strong. Sell Hard. Ewes €3.30/3.60kg.

Supply Figures as Reported by DAFM – Week 25 (27.06.2021)

AnimalFigureChangeYTDYTD Change
Lambs/Hoggets539▼-921 692,660▼-91,631 
Spring Lambs47,814▲1,878325,880▲9,702
Ewes and Rams6340▲873139737▼-15,640 
Light Lambs0▼-1 105▲65

Official Irish Prices as Reported by DAFM – Week 25 (27.06.2021)

c/kg (Incl. VAT)This week Change prev. wk2020Change prev. yr
National Avg Price664.85▼-39 516.39▲148
YTD Avg691.12▼-1 529.82▲161

Official GB Prices as Reported by AHDB

 R3L Overall SQQ*Type of lamb
19/06/2021633.8634.5New season
26/06/2021586.8587.2New season
Change▼-47 ▼-47  
Price in c/kg (Incl VAT)720.5721.0 
Source: Bord Bia

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