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Beef & Sheep Update 5th April

Sheep and Cattle in Wicklow

Beef Update

IFA Livestock Chairman Declan Hanrahan said factories are very anxious for cattle this week and are paying up to 10c/kg to 15c/kg above quotes to secure cattle. Steers are making from €5.20kg to €5.30kg while heifers range from €5.25kg to €5.35kg. Young bulls grading R and U are ranging from €5.10kg to €5.50. Demand for cull cows remains strong with prices ranging from €4.20 for P grades up to €4.90kg and above for fleshed U grade cows. He said mart prices are strong driven by factory agents and exporters buying forward store and finished cattle for NI and international markets as volumes to these markets increase weekly. Live exports for the first 12 weeks of the year for store and finished cattle are up 67% and 50% with this number expected to continue in the coming months. 9,855 and 1,594 cattle have been exported to NI and GB to date, up 6% and 273% on 2023 figures. Declan Hanrahan said demand for beef in our key export markets remains strong and factories must move forward with stronger beef prices.

Beef Price Update 04/04/2024

Base Quotes Steer €5.20/5.30kg. Heifers €5.25/5.35kg. Higher deals and flat prices for larger and specialist lots. Y Bulls R/U €5.10/5.40Kg. Cows €4.10/4.90kg.

Supply Figures as Reported by DAFM – WK 13 (31.03.2024)

AnimalNumberChange prev wk% of totalYTDYTD Change
Y Bulls1,657▼-49 5%34,267▼-2,238 
Bull494▼-56 2%5,532▼-335 
Steer11,775▼-242 37%158,547▲5,559
Veal-V1,021▼-871 3%12,739▼-12,836 
Total31,967▼-1,139 100%462,669▲3,665

Official Irish Prices as Reported by DAFM – WK 13 (31.03.2024)

c/kg (Incl. VAT)U3Change prev wkR3Change prev wkO3Change prev wkP+3Change prev wk
Y Bulls540▲3530▲0516▲3508▲7

Official GB Prices as Reported by AHDB

 SteersSteersHeifersHeifersY bullY bullCow
Change▼-3 ▼-10 ▼-2 ▼-3 ▼-2 ▼-5 ▲3
Price in c/kg (Incl VAT)608.6610.5607.4611.1591.9587.3461.2

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

Country & TypeNot Available18.03.202309.03.2024
EU + Y BullsNot Available€ 5.15€ 5.07
IE + SteersNot Available€ 5.25€ 5.17
UK + Steers Not Available€ 554.00€ 5.73

Live Cattle Exports W/C 18.03.2024

Source: Bord Bia

Sheep Update

IFA Sheep Chairman Adrian Gallagher said lamb prices continue in an upward trajectory as supplies continue to tighten. This week hoggets are making from €8.80kg to €9.10kg with the higher prices becoming a lot easier to negotiate for suitable lots. Spring lambs have increased by 20c/kg with prices now ranging from €9.30kg to €9.60kg. He said factory demand for all categories of sheep remains extremely strong as factories continue to fill orders for the Ramadan festival which commences this month. The tighter supply of finished hogget’s is evident on the ground and in mart sales as throughput continues to pull back. Hogget throughput to date is back 26,694 head on 2024 levels and as the number of spring lamb coming to market remains very low this will add further competition for lambs in the coming weeks. The IFA Sheep Chairman said factories are very anxious for lambs and farmers should sell hard while moving lambs as they become fit.

Lamb Price Update 04/04/2024

Hogget’s €8.80/9.10/kg. Weights to 24kg. Spring Lamb €9.30/9.60kg. Higher deals groups/larger lots. Ewes €3.70/4.00/kg.

Supply Figures as Reported by DAFM – WK 13 (31.03.2024)

AnimalFigureChangeYTDYTD Change
Spring Lambs764▲3019,798▲7,245
Ewes and Rams4,538▼-875 65,814▼-5,459 
Light Lambs7▼-1 44▼-5 

Official Irish Prices as Reported by DAFM – WK 13 (31.03.2024)

c/kg (Incl. VAT)This week Change prev. wk2023Change prev. yr
National Avg Price861.14▲29675.73▲190
YTD Avg733.19▲11624.81▲102

Official GB Prices as Reported by AHDB

 R3L Overall SQQ*Type of lamb
23/03/2024846.4838.8Old season lamb
30/03/2024821.5816.3Old season lamb
Change▼-25 ▼-23  
Price in c/kg (Incl VAT)1008.71002.3 

Live Sheep Exports March 14th 2024

Source: Bord Bia

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