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Beef & Sheep Update 5th August

Cattle and Sheep in Wickow Field

Beef Update

IFA Livestock Chairman Brendan Golden said beef prices have steadied this week as supplies of finished cattle tighten on the ground. 

He said Factories are actively sourcing suitable cattle and are leaving no stock behind paying 10-15c/kg above base quotes to close out deals. 

Factories are paying €4.80-5.00kg for steers and €4.85-5.05kg for heifers. Y Bulls are ranging from €4.70-5.05kg for R/U grades and cows are making €4.40-5.00kg. 

He said the Irish prime composite price of €4.82/kg is now 19c/kg below the Prime export benchmark of €5.01c/kg and factories must reflect this market situation with stronger beef prices. 

The IFA Livestock Chairman said farmers should dig in and sell hard as supplies of prime cattle are well short of market demand.

Beef Price Update 04/08/2022

Steer Base €4.80/5.00/kg. Heifers €4.85/5.05/kg. Higher deals and flat prices for larger and specialist lots. Y Bulls R/U €4.70/5.05Kg. Cows €4.40/5.00kg.

Supply Figures as Reported by DAFM – WK 30 (31.07.2022)

AnimalNumberChange prev wk% of totalYTDYTD Change
Y Bulls2,121▼-477 6%88,124▲4,394
Cow7,320▼-506 21%236,602▲34,782
Veal-Z22▼-1 0%1,110▲43

Official Irish Prices as Reported by DAFM – WK 30 (31.07.2022)

c/kg (Incl. VAT)U3Change prev wkR3Change prev wkO3Change prev wkP+3Change prev wk
Steers520▼-3 510▼-3 494▼-3 462▼-3 
Heifers531▼-2 516▼-1 506▼-1 457▼-4 
Y Bulls514▼-6 495▼-13 478▼-1 464▲2
Cows0▲0479▼-7 459▼-1 446▼-3 

Official GB Prices as Reported by AHDB

 SteersSteersHeifersHeifersY bullY bullCow
Change▼-1 ▲0▼-0 ▼-2 ▼-2 ▼-4 ▼-2 
Price in c/kg (Incl VAT)558.9567.0558.9564.3547.6547.5470.9

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

Country & Type01/08/202031/07/202130/07/2022
EU + Y Bulls€ 3.53€ 3.87€ 4.96
IE + Steers€ 3.75€ 4.28€ 4.83
UK + Steers € 4.11€ 4.73€ 5.23

Live Exports W/C 25.07.2022

Sheep Update

IFA Sheep Chairman Kevin Comiskey said supplies of suitable finished lambs are tight on the ground and there was no justification for the cuts imposed by factories this week.  Factories are offering deals up to €6.70kg for lambs but are meeting very strong resistance from farmers he said. Cull ewes are ranging from €3.50-3.80kg. 

He said Bord Bia predict supplies of imported lamb into the EU market will remain low for the remainder of the year, while EU lamb production is forecast to be back 2%, creating favourable conditions for Irish lamb.  Factory agents and wholesalers are very active in marts providing a real competitive alternative, particularly to the lower factory quoted prices he said. He said lamb numbers are tight, market demand is strong and farmers should only sell lambs as they become fit to maximise returns.  

Lamb Price Update 04/08/2022

Lamb €6.40/6.70/kg. Higher deals groups/larger lots. Ewes €3.40/3.80/kg.

Supply Figures as Reported by DAFM – WK 30 (31.07.2022)

AnimalFigureChangeYTDYTD Change
Lambs/Hoggets373▼-70 893,569▲198,264
Spring Lambs48,067▼-61 530,705▼-71,421 
Ewes and Rams8,616▲659176,445▼-1,097 
Light Lambs1▼-6 105▲0

Official Irish Prices as Reported by DAFM – WK 30 (31.07.2022)

c/kg(Incl. VAT)WK 30Change prev wk2021Change prev yr
National Avg Price661.57▼-22 605.61▲56
YTD Avg717.24▼-2 678.98▲38

Official GB Prices as Reported by AHDB

 R3L Overall SQQ*Type of lamb
23-Jul-22621.7622.5New season
23/07/2022575.7574.5New season
Change▼-46 ▼-48  
Price in c/kg (Incl VAT)723.7722.2 

Live Sheep Exports 2022 18/07/2022

Source: Bord Bia

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