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Beef & Sheep Update 6th September

Sheep and Cattle in Wicklow

Beef Update

IFA Livestock Chairman Declan Hanrahan said strong market demand for beef sees prices remain firm but more is needed from the market. He said EU young bull prices have strengthened and when combined with the UK price the Bord Bia Prime export benchmark price has opened a gap of 12c/kg with the Prime Irish composite price. He said despite the upward movement in price over the past fortnight the increases are not keeping pace with prices in our key markets and these must move on further and faster. This week steers are making from €5.05kg to €5.15kg and heifers €5.10kg to €5.20kg. Young bulls R/u grades are ranging from €5.10kg to €5.30kg. Cull cows are making from €4.30kg to €4.90kg depending on the grade.  Declan Hanrahan said factories must do more on beef price and reflect the realities of the market conditions we are selling into. 

Beef Price Update 06/09/2024

Base Quotes Steer €5.05/5.15kg. Heifers €5.10/5.20kg. Higher deals and flat prices for larger and specialist lots. Y Bulls R/U €5.10/5.30Kg. Cows €4.30/4.90kg.

Supply Figures as Reported by DAFM – WK 35 (01.09.2024)

AnimalNumberChange prev wk% of totalYTDYTD Change
Y Bulls923▼-210 3%78,960▼-6,849 
Bull591▼-91 2%20,416▲619
Steer161,21▲95646%427,813▼-14,264 
Cow7,748▲44622%288,571▲27,204
Heifer9,498▲75727%332,306▲7,462
Veal-V237▲2161%19,968▼-10,529 
Veal-Z27▲130%1,359▲154
Total35145▲2,087100%1169393▲3,665

Official Irish Prices as Reported by DAFM – WK 35 (01.09.2024)

c/kg (Incl. VAT)U3Change prev wkR3Change prev wkO3Change prev wkP+3Change prev wk
Steers540▲0530▲1517▲1487▲1
Heifers545▲0535▲2525▲2479▼-1 
Y Bulls533▲1523▲1509▲3502▲4
Cows0▲0487▼-2 456▼-1 442▲2

Official GB Prices as Reported by AHDB

 SteersSteersHeifersHeifersY bullY bullCow
p/kgR3R4LR3R4LR3R4L-O4L
24/08/2024502.2503.2501.2503.8493.1492.2384.7
31/08/2024504.6507.1498.7506.6494.4492.6386.4
Change▲2▲4▲3▲3▲1▲0▲2
Price in c/kg (Incl VAT)619.6622.7618.6622.1607.1604.6474.5

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

Country & Type13.08.202212.08.202317.08.2024
EU + Y Bulls€ 4.97€ 4.78€ 5.10
IE + Steers€ 4.80€ 4.66€ 5.02
UK + Steers € 5.18€ 5.33€ 5.80

Live Cattle Exports 19th August


Sheep Update

IFA Sheep Chairman Adrian Gallagher said lamb prices remain steady but higher prices are becoming a lot easier to negotiate with processors. He said factories are paying prices up to 20c/kg above quotes to secure lambs this week. Prices are ranging from €7.30kg to €7.60kg on weights to 22kg with higher deals for groups and larger lots. He said there is no surge of lambs coming through the system as total spring lamb throughput is back 77,517 head to date with overall throughput back over 185,000 head. He said it’s a critical time of the year for sheep farmers and factories must return strong viable price to reflect production costs on farms and to ensure store lamb buyers remain active in marts. Adrian Gallagher said factories are very anxious for lambs and farmers should sell hard as they become fit. 

Lamb Price Update 06/09/2024

Spring Lamb €7.30kg/7.60kg. Weights to 22kg. Higher deals groups/larger lots. Ewes €4.00/4.40/kg.

Supply Figures as Reported by DAFM – WK 35 (01.09.2024)

AnimalFigureChangeYTDYTD Change
Lambs/Hoggets685▲306895926▼-83,702 
Spring Lambs51103▲2,154627890▼-77,516 
Ewes and Rams7852▼-274 176302▼-24,646 
Light Lambs0▼-2 105▼-25 
TOTAL59640▲2,1841700223▼-185,889 

Official Irish Prices as Reported by DAFM – WK 35 (01.09.2024)

c/kg (Incl. VAT)This week Change prev. wk2023Change prev. yr
National Avg Price861.14▼-1 675.73▲99
YTD Avg733.19▼-2 624.81▲113

Official GB Prices as Reported by AHDB

 R3L Overall SQQ*Type of lamb
24/08/2024667.1665.5New season Lamb
31/08/2024665.3663.5New season Lamb
Change▼-2 ▼-2  
Price in c/kg (Incl VAT)816.9814.71

Live Sheep Exports 30th June

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