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)
| Animal | Number | Change prev wk | % of total | YTD | YTD Change |
| Y Bulls | 1,657 | ▼-49 | 5% | 34,267 | ▼-2,238 |
| Bull | 494 | ▼-56 | 2% | 5,532 | ▼-335 |
| Steer | 11,775 | ▼-242 | 37% | 158,547 | ▲5,559 |
| Cow | 7,641 | ▲36 | 24% | 114,783 | ▲14,625 |
| Heifer | 9,316 | ▲20 | 29% | 136,049 | ▲6,067 |
| Veal-V | 1,021 | ▼-871 | 3% | 12,739 | ▼-12,836 |
| Veal-Z | 63 | ▲23 | 0% | 752 | ▲105 |
| Total | 31,967 | ▼-1,139 | 100% | 462,669 | ▲3,665 |
Official Irish Prices as Reported by DAFM – WK 13 (31.03.2024)
| c/kg (Incl. VAT) | U3 | Change prev wk | R3 | Change prev wk | O3 | Change prev wk | P+3 | Change prev wk |
| Steers | 553 | ▲2 | 543 | ▲2 | 534 | ▲1 | 502 | ▼-1 |
| Heifers | 563 | ▲3 | 549 | ▲2 | 541 | ▲2 | 491 | ▼-1 |
| Y Bulls | 540 | ▲3 | 530 | ▲0 | 516 | ▲3 | 508 | ▲7 |
| Cows | 0 | ▲0 | 484 | ▲4 | 443 | ▲5 | 421 | ▲5 |
Official GB Prices as Reported by AHDB
| Steers | Steers | Heifers | Heifers | Y bull | Y bull | Cow | |
| p/kg | R3 | R4L | R3 | R4L | R3 | R4L | -O4L |
| 23/03/2024 | 499 | 507.1 | 496.3 | 500.7 | 483.5 | 482.8 | 371.4 |
| 30/03/2024 | 495.6 | 497.2 | 494.7 | 497.7 | 482.0 | 478.3 | 375.6 |
| Change | ▼-3 | ▼-10 | ▼-2 | ▼-3 | ▼-2 | ▼-5 | ▲3 |
| Price in c/kg (Incl VAT) | 608.6 | 610.5 | 607.4 | 611.1 | 591.9 | 587.3 | 461.2 |
Euro Price for the Most Recent Week (€/KG Deadweight excl. VAT)
| Country & Type | Not Available | 18.03.2023 | 09.03.2024 |
| EU + Y Bulls | Not Available | € 5.15 | € 5.07 |
| IE + Steers | Not Available | € 5.25 | € 5.17 |
| UK + Steers | Not Available | € 554.00 | € 5.73 |
Live Cattle Exports W/C 18.03.2024
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)
| Animal | Figure | Change | YTD | YTD Change |
| Lambs/Hoggets | 53,734 | ▲5,696 | 602,071 | ▼-26,694 |
| Spring Lambs | 764 | ▲301 | 9,798 | ▲7,245 |
| Ewes and Rams | 4,538 | ▼-875 | 65,814 | ▼-5,459 |
| Light Lambs | 7 | ▼-1 | 44 | ▼-5 |
| TOTAL | 59,043 | ▲5,121 | 677,727 | ▼-24,913 |
Official Irish Prices as Reported by DAFM – WK 13 (31.03.2024)
| c/kg (Incl. VAT) | This week | Change prev. wk | 2023 | Change prev. yr |
| National Avg Price | 861.14 | ▲29 | 675.73 | ▲190 |
| YTD Avg | 733.19 | ▲11 | 624.81 | ▲102 |
Official GB Prices as Reported by AHDB
| R3L | Overall SQQ* | Type of lamb | |
| 23/03/2024 | 846.4 | 838.8 | Old season lamb |
| 30/03/2024 | 821.5 | 816.3 | Old season lamb |
| Change | ▼-25 | ▼-23 | |
| Price in c/kg (Incl VAT) | 1008.7 | 1002.3 |
Live Sheep Exports March 14th 2024
