Beef & Sheep Update 7th May

Beef Update

IFA President Tim Cullinan said the full takeover of Slaney Meats and ICM by ABP is a further erosion of competition in the processing sector. “This consolidation of the buying power for livestock in the hands of a few has to be addressed by the Minister for Agriculture and the CPCC,” he said. It comes five years after a joint venture in which ABP took a 50% share in the businesses. He said this latest move renews the urgency for the Minister to implement the primary legislation to provide the office of the Food Regulator with the powers necessary to investigate and enforce at all levels throughout the supply chain. He said returns to livestock farmers must be maximised from the market place.  In order to achieve this, it’s critical we have full transparency on margins throughout the process.

Beef Price Update 06/05/21

Steer base €4.10/4.15kg. Heifers €4.15/4.20kg. Higher deals larger lots. Market strong. Y Bulls R/U €4.10/4.30kg. Cows €3.30/3.85kg

Supply Figures as Reported by DAFM – Week 17 (02.05.2021)

Animal	Number	Change prev wk	% of total	YTD	YTD Change
Y Bulls	2,275	▲92	8%	48,740	▼-15,065
Bull	506	▼-138	2%	7,724	▼-2,517
Steer	10,916	▼-579	38%	192,575	▼-9,456
Cow	6,107	▼-646	21%	105,841	▲696
Heifer	8,600	▼-461	30%	161,699	▼-18,788
Veal-V	350	▲40	1%	20,443	▼-5,141
Veal-Z	33	▼-24	0%	730	▲107
Total	28,787	▼-1,716	100%	537,752	▼-50,164

Official Irish Prices as Reported by DAFM – Week 17 (02.05.2021)

c/kg(Incl. VAT)	U3	Changeprev wk	R3	Changeprev wk	O3	Changeprev wk	P+3	Changeprev wk
Steers	443	▲4	432	▲5	416	▲5	391	▲9
Heifers	450	▲5	435	▲4	422	▲6	380	▲6
Y Bulls	428	▲8	414	▲3	396	▲2	391	▲6
Cows	0	▲0	373	▼-1	354	▲5	343	▲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
24.04.2021	411.1	415.9	411.3	416.5	407.8	409.7	295.3
01.05.2021	413	418.4	412.6	419.2	408.7	415.4	297
Change	▲2	▲3	▲1	▲3	▲1	▲6	▲2
Price in c/kg(Incl. VAT)	501.3	507.9	500.8	508.8	496.1	504.2	360.5

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

Country & Type	27.04.2019	25.04.2020	24.04.2021
EU + Y Bulls	€ 3.63	€ 3.44	€ 3.83
IE + Steers	€ 3.70	€ 3.40	€ 4.04
UK + Steers	€ 4.03	€ 3.70	€ 4.69

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Sheep Update

IFA Sheep Chairman Sean Dennehy said market conditions for sheep meat are positive this week as factories actively seek lambs and hoggets fit for slaughter. Supplies are tight with last week’s kill 9,339 less than the same week in 2020. Year to date throughput is down 8% on 2020 figures. “Hoggets are particularly scare at the moment with quality available varied” he said.  Both factory agents and wholesalers are actively looking for stock and supplies remain tight.  “Lamb is moving well at retail level and the end of Ramadan and upcoming Eid al-Fitr is giving it an additional boost,” he said. The IFA sheep Chairman said farmers should select their lambs carefully and move numbers as they become fit.

Lamb Price Update 06/05/21

QA Hoggets €7.40/7.50kg. Spring Lamb €7.70/8.00kg. Weight 20.5kg. Higher deals for groups and larger lots. Ewes €3.20/3.50kg.

Supply Figures as Reported by DAFM – Week 17 (02.05.2021)

Animal	Figure	Change	YTD	YTD Change
Lambs/Hoggets	20,347	▼-4,870	642,870	▼-73,185
Spring Lambs	15,397	▲7,080	32,846	▲13,606
Ewes and Rams	6,635	▲652	90,720	▼-8,352
Light Lambs	2	▼-2	96	▲74
TOTAL	42,381	▲2,860	766,532	▼-67,857

Official Irish Prices as Reported by DAFM – Week 17 (02.05.2021)

c/kg(Incl. VAT)	Week 17	Change prev wk	2020	Changeprev yr
National Avg Price	730.7	▼-36	590.8	▲140
YTD Avg	671.9	▲4	519.1	▲153

Official GB Prices as Reported by AHDB

	R3L	Overall SQQ*	Type of lamb
24.04.2021	680.3	674.2	Old season
01.05.2021	649.8	644.3	Old season
Change	▼-31	▼-30
Price in c/kg(Incl. VAT)	788.7	782.0