Beef & Sheep UpdateCattleCattle PricesSheepSheep Prices

Beef & Sheep Update 6th November

Cattle and Sheep in field, Wicklow, Ireland

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)

AnimalNumberChange prev. wk.% of totalYTDYTD Change
Y Bulls1422▼-725 4%103681▼-11,758 
Bull375▼-89 1%22685▼-5,322 
Steer15117▼-1,695 46%567148▼-12,153 
Cow6839▼-95 21%284443▼-10,606 
Heifer9149▼-1,455 28%393613▼-29,615 
Veal-Z26▼-47 0%1340▲59
Total32955▼-4,088 100%1393786▼-75,303 

Official Irish Prices as Reported by DAFM – Week 43 (25.10.2021)

c/kg (Incl. VAT)U3Changeprev wkR3Changeprev wkO3Changeprev wkP+3Changeprev wk
Heifers456▼-1 444▲0433▲0389▼-1 
Y Bulls430▼-2 421▼-2 409▲1393▼-4 
Cows0▲0392▼-4 368▼-4 354▼-3 

Official GB Prices as Reported by AHDB

 SteersSteersHeifersHeifersY bullY bullCow
Change▲1▲1▼-1 ▲1▼-3 ▲5▼-6 
Price in c/kg (Incl VAT)513.8517.9511.8515.7502.8502.8347.7

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

Country & Type01.11.2019202030.10.2021
EU + Y Bulls€ 3.56Figures€ 4.22
IE + Steers€ 3.44Not€ 4.16
UK + Steers € 3.81Available€ 4.89

Live Exports W/C 18.10.2021

Source: BordBia

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)

Lambs/Hoggets101▼-13 697741▼-91,727 
Spring Lambs39299▼-10,825 1253923▼-8,066 
Ewes and Rams7972▼-694 298367▼-19,762 
Light Lambs4▲4125▲65
TOTAL47376▼-11,528 2250156▼-119,490 

Official Irish Prices as Reported by DAFM – Week 43 (25.10.2021)

c/kg (Incl. VAT)WK 43 Changeprev wk2020Changeprev yr
National Avg Price636.29▲7491.5▲145
YTD Avg657.91▼-1 519.00▲139

Official GB Prices as Reported by AHDB

 R3L Overall SQQ*Type of lamb
23/10/2021531.0529.9New season
30/10/2021533.5533.2New season
Price in c/kg (Incl VAT)655.1654.7 

Total Live Sheep Exports 12/10/2021

Source: Bord Bia

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