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Beef & Sheep Update 2nd September

Cattle and Sheep in Wicklow Field, Ireland

Beef Update

Commenting on the visit by the Minister for Agriculture Charlie McConalogue to Japan and Singapore, IFA Livestock Chairman Brendan Golden said it’s important for beef farmers that the Minister and Bord Bia build on key high-value markets for Irish beef. He said growing market share for beef and regaining access to the Chinese market are important steps in maximising the returns to farmers. However, protecting the European market for Irish and EU farmers is where the real value rests, and trade deals such as Mercosur cannot undermine this vital market for suckler and beef farmers. “These are important aspects for the sector in the medium to longer term, but we cannot lose sight of the immediate challenges on suckler and beef farms,” he said. He said suckler and beef farmers do not have the financial capacity to absorb the current inputs inflation and this must be addressed both in terms of stronger returns from the market place from factories and minimum price commitments for winter finishing. The Minister must also play his part and provide targeted direct supports for suckler and beef farmers in the upcoming Budget.

Beef Price Update 01/09/2022

Steer Base €4.80/4.90kg. Heifers €4.85/4.95kg. Higher deals and flat prices for larger and specialist lots. Y Bulls R/U €4.70/5.00Kg. Cows €4.40/4.90kg.

Supply Figures as Reported by DAFM – WK 34 (28.08.2022)

AnimalNumberChange prev wk% of totalYTDYTD Change
Y Bulls1,526▼-6 4%94,627▲5,225
Bull627▼-77 2%19,349▲1,361

Official Irish Prices as Reported by DAFM – WK 34 (28.08.2022)

c/kg (Incl. VAT)U3Change prev wkR3Changeprev wkO3Change prev wkP+3Change prev wk
Steers516▲0505▼-1 489▼-1 457▼-1 
Y Bulls505▲1494▲2469▲1458▼-2 

Official GB Prices as Reported by AHDB

 SteersSteersHeifersHeifersY bullY bullCow
Change▲2▲0▲2▼-0 ▲1▲0▲5
Price in c/kg (Incl VAT)550.4554.0549.1552.8539.2536.1461.5

Live Exports W/C 15.08.2022

Source: Bord Bia

Sheep Update

IFA Sheep Chairman Kevin Comiskey said the further weakening of lamb prices this week by factories is not acceptable and must stop. He said factories must do more in the marketplace to support sheep farmers and the Minister for Agriculture Charlie McConalogue must come forward with meaningful supports that will restore confidence in farmers selling and finishing lambs. Teagasc has forecast margins from sheep production to decline this year, with lamb prices insufficient to cover increased costs of production. Their Outlook report forecast the average Family Farm Income on sheep farms to decline by 20% in 2022. He said sheep farms do not have the capacity to absorb this level of decline in income, with this latest drop in lamb prices coming at a critical time for the sector compounding the situation.

Lamb Price Update 01/09/2022

Lamb €6.10/6.40/kg. Higher deals groups/larger lots. Ewes €3.40/3.80/kg.

Supply Figures as Reported by DAFM – WK 34 (28.08.2022)

AnimalFigureChangeYTDYTD Change
Spring Lambs52,779▲2,785723,013▼-72,081 
Ewes and Rams10,267▲622213,364▼-2,345 
Light Lambs0▲0107▼-10 

Official Irish Prices as Reported by DAFM – WK 34 (28.08.2022)

c/kg(Incl. VAT)WK 34Change prev wk2021Changeprev yr
National Avg Price631.98▼-9 610.56▲21
YTD Avg707.65▼-2 669.96▲38

Official GB Prices as Reported by AHDB

 R3L Overall SQQ*Type of lamb
20/08/2022543.8542.8New season
27/08/2022537.0536.2New season
Change▼-7 ▼-7  
Price in c/kg (Incl VAT)667.1666.1 

Live Sheep Exports 18/07/2022

Source: Bord Bia

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