Beef Update
IFA Livestock Chairman Brendan Golden said beef prices must move on to keep pace with the significant increases in the UK and EU cattle prices. He said the latest Prime Export Benchmark price is €4.19/kg, which is 9c/kg above the prime Irish composite price of €4.10/kg. “Beef prices in our key markets have strengthened consistently over the past number of weeks, up 10c/kg, against a background of static Irish prices,” he said. He said demand for beef is strong and will increase over the coming weeks as factories start buying for the lucrative Christmas trade as supplies tighten on the ground. UK supplies are predicted to be 5% below last year’s levels over this period. Based on throughput to-date, Bord Bia predict there will be over 40,000 fewer cattle to slaughter between now and year end.
Beef Price Update 04/11/21
Steer Base €4.20/4.30kg. Heifers €4.25/4.35kg. Y Bulls R/U €4.15/4.30Kg. Cows €3.50/4.00kg. EU/UK price up. Market demand strong.
Supply Figures as Reported by DAFM – Week 43 (25.10.2021)
| Animal | Number | Change prev. wk. | % of total | YTD | YTD Change |
| Y Bulls | 1422 | ▼-725 | 4% | 103681 | ▼-11,758 |
| Bull | 375 | ▼-89 | 1% | 22685 | ▼-5,322 |
| Steer | 15117 | ▼-1,695 | 46% | 567148 | ▼-12,153 |
| Cow | 6839 | ▼-95 | 21% | 284443 | ▼-10,606 |
| Heifer | 9149 | ▼-1,455 | 28% | 393613 | ▼-29,615 |
| Veal-V | 27 | ▲18 | 0% | 20876 | ▼-5,908 |
| Veal-Z | 26 | ▼-47 | 0% | 1340 | ▲59 |
| Total | 32955 | ▼-4,088 | 100% | 1393786 | ▼-75,303 |
Official Irish Prices as Reported by DAFM – Week 43 (25.10.2021)
| c/kg (Incl. VAT) | U3 | Changeprev wk | R3 | Changeprev wk | O3 | Changeprev wk | P+3 | Changeprev wk |
| Steers | 451 | ▲1 | 439 | ▲0 | 420 | ▲0 | 393 | ▲1 |
| Heifers | 456 | ▼-1 | 444 | ▲0 | 433 | ▲0 | 389 | ▼-1 |
| Y Bulls | 430 | ▼-2 | 421 | ▼-2 | 409 | ▲1 | 393 | ▼-4 |
| Cows | 0 | ▲0 | 392 | ▼-4 | 368 | ▼-4 | 354 | ▼-3 |
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 |
| 23.10.2021 | 417.7 | 420.9 | 418 | 419.2 | 412.9 | 404.4 | 289 |
| 30.10.2021 | 418.4 | 421.8 | 410.6 | 416.8 | 420.0 | 408.0 | 409.5 |
| Change | ▲1 | ▲1 | ▼-1 | ▲1 | ▼-3 | ▲5 | ▼-6 |
| Price in c/kg (Incl VAT) | 513.8 | 517.9 | 511.8 | 515.7 | 502.8 | 502.8 | 347.7 |
Euro Price for the Most Recent Week (€/KG Deadweight excl. VAT)
| Country & Type | 01.11.2019 | 2020 | 30.10.2021 |
| EU + Y Bulls | € 3.56 | Figures | € 4.22 |
| IE + Steers | € 3.44 | Not | € 4.16 |
| UK + Steers | € 3.81 | Available | € 4.89 |
Live Exports W/C 18.10.2021
Sheep Update
IFA Sheep Chairman Sean Dennehy said lamb price continues to rise as factories struggle to match supplies with market demand, increasing by 30c/kg over the week. He said lambs are making €6.70/kg to €6.80/kg today, with weights of 22.5kgs and 23kgs offered. Cull ewes are making €3.00/kg to €3.30/kg in general. He said some lambs bought by factories are coming in at the equivalent of €6.90/kg, with farmers sights now on the €7.00/kg target. “Good quality fleshed lambs are very scarce on the ground and factories are having to compete to secure supplies to meet the strong market demand for sheep meat,” he said. The mart trade has also strengthened for all types of sheep with competition between factory agents, wholesalers and butchers with factory agents also competing for short keep stores to secure numbers.
Lamb Price Update 04/11/21
Lamb €6.80/6.95kg. Deals on weights to 22.5/23kg. Strong demand sell hard. Ewes €3.00/3.30kg.
Supply Figures as Reported by DAFM – Week 43 (25.10.2021)
| Animal | Figure | Change | YTD | |
| Lambs/Hoggets | 101 | ▼-13 | 697741 | ▼-91,727 |
| Spring Lambs | 39299 | ▼-10,825 | 1253923 | ▼-8,066 |
| Ewes and Rams | 7972 | ▼-694 | 298367 | ▼-19,762 |
| Light Lambs | 4 | ▲4 | 125 | ▲65 |
| TOTAL | 47376 | ▼-11,528 | 2250156 | ▼-119,490 |
Official Irish Prices as Reported by DAFM – Week 43 (25.10.2021)
| c/kg (Incl. VAT) | WK 43 | Changeprev wk | 2020 | Changeprev yr |
| National Avg Price | 636.29 | ▲7 | 491.5 | ▲145 |
| YTD Avg | 657.91 | ▼-1 | 519.00 | ▲139 |
Official GB Prices as Reported by AHDB
| R3L | Overall SQQ* | Type of lamb | |
| 23/10/2021 | 531.0 | 529.9 | New season |
| 30/10/2021 | 533.5 | 533.2 | New season |
| Change | ▲3 | ▲3 | |
| Price in c/kg (Incl VAT) | 655.1 | 654.7 |
Total Live Sheep Exports 12/10/2021
