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Beef & Sheep Update 30th September

Cattle and Sheep in Wicklow field

Beef Update

IFA livestock chairman Brendan Golden said market conditions for beef in our key export markets are favourable and justify a stronger beef price. He said the supply demand balance for beef is good and improving as supplies in GB dropped by over 6,819 in the past week with prices increasing by a further 1.4p/kg. He said this strengthens the opportunity for factories to increase prices in this important market and offset the impact of a slightly weaker sterling, which at this point is also showing signs of strengthening. In the EU young bull prices have been strong and steady and are currently running 24c/kg above our prices on the Prime Export Benchmark tracker. He said the narrative over the past few weeks from factories is not accurately reflecting the realities of the market place. He said there is no justification for weakening in beef price and attempts by factories to do so is clearly opportunistic when the facts of our key markets are appraised.

Beef Price Update 29/09/2022

Steer Base €4.70/4.80kg. Heifers €4.75/4.85kg. 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 38 (25.09.2022)

AnimalNumberChange prev wk% of totalYTDYTD Change
Y Bulls1,834▲3585%100,975▲5,430
Bull560▼-158 2%21,718▲1,310
Cow6,931▼-113 19%289,087▲38,676
Veal-Z13▼-5 0%1,254▲70

Official Irish Prices as Reported by DAFM – WK 38 (25.09.2022)

c/kg (Incl. VAT)U3Change prev wkR3Change prev wkO3Change prev wkP+3Change prev wk
Steers508▼-2 497▼-3 478▼-3 446▼-4 
Heifers513▼-2 501▼-2 487▼-5 438▼-13 
Y Bulls492▼-7 481▼-7 461▼-4 444▼-8 
Cows0▲0471▼-1 448▼-3 434▼-4 

Official GB Prices as Reported by AHDB

 SteersSteersHeifersHeifersY bullY bullCow
Price in c/kg (Incl VAT)535.9539.8533.9538.6526.4526.9445.4

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

Country & Type19.09.202018.09.202117.09.2022
EU + Y Bulls€ 3.51€ 3.99€ 4.99
IE + Steers€ 3.63€ 4.17€ 4.79
UK + Steers € 4.06€ 4.84€ 5.07

Live Exports W/C 19.09.2022

Source: Bord Bia

Sheep Update

IFA Sheep committee chairman Kevin Comiskey said lamb prices are steady with numbers of well fleshed lambs remaining tight. He said prices are ranging from €6.20 to €6.50/kg with higher prices for larger lots and deals to 22kgs. Cull ewes are ranging in general from €3.10 to €3.70/kg. Kevin Comiskey said demand in marts is good for heavy well fleshed lambs, underpinned by tight supplies. He said the store lamb trade has also improved in some marts helped by good grass growth. He  said longer keep stores are a difficult trade and it is extremely disappointing and frustrating the Minister for Agriculture chose not support this vital trade in the budget. He said IFA as far back as last March and April IFA highlighted this issue to the Minister and he has had ample time to put the supports necessary in place but to-date has not done so.

Lamb Price Update 29/09/2022

Lamb €6.20/6.50/kg to 22kg. Higher deals groups/larger lots. Ewes €3.40/3.70/kg.

Supply Figures as Reported by DAFM – WK 38 (25.09.2022)

AnimalFigureChangeYTDYTD Change
Spring Lambs52,124▲2,163925,842▼-80,510 
Ewes and Rams12,763▼-456 263,914▲10,715
Light Lambs1▼-1 114▼-4 

Official Irish Prices as Reported by DAFM – WK 38 (25.09.2022)

c/kg (Incl. VAT)WK 38Change prev wk2021Changeprev yr
National Avg Price616.07▲3595.76▲20
YTD Avg697.77▼-2 662.76▲35

Official GB Prices as Reported by AHDB

 R3L Overall SQQ*Type of lamb
17-Sep-22526.1523.6New season
24-Sep-22527.7524.8New season
Price in c/kg (Incl VAT)633.2629.8 

Live Sheep Exports 18/07/2022

Source: Bord Bia

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