Beef Update
IFA Livestock Chairman Brendan Golden said UK beef prices have risen again this week as supplies tighten. He said factory agents are very active on the ground and in marts sourcing cattle as supplies of suitable cattle here, similar to the UK ease.
He said despite attempts by factories to offer lower quotes, tight supplies, good market demand and strong resistance from farmers is returning paid prices of up to 15c/kg above quotes. He said the supply demand situation for beef in the UK and EU is very much in our favour as South American beef continues to be directed to the Chinese market, creating real opportunity for Irish beef in the key EU market.
Brendan Golden said strong beef prices in the coming weeks and months will be vital if factories want a consistent supply of cattle, beef farmer’s cannot and will not make investments in beef production at the levels that are now required without firm commitments on strong beef prices that reflect the realities of costs we are incurring on our farms.
Beef Price Update: 07/07/2022
Steer Base €4.90/5.05kg. Heifers €5.00/5.10kg. Higher deals and flat prices for larger and specialist lots. Y Bulls R/U €4.90
Supply Figures as Reported by DAFM – WK 26 (03.07.2022)
| Animal | Number | Change prev wk | % of total | YTD | YTD Change |
| Y Bulls | 2,834 | ▼-200 | 9% | 78,001 | ▲2,571 |
| Bull | 517 | ▼-118 | 2% | 14,210 | ▲1,122 |
| Steer | 11,497 | ▲168 | 36% | 317,567 | ▲27,469 |
| Cow | 8,470 | ▼-522 | 26% | 205,580 | ▲33,412 |
| Heifer | 8,743 | ▲272 | 27% | 253,347 | ▲16,498 |
| Veal-V | 2 | ▼-1 | 0% | 27,905 | ▲7,337 |
| Veal-Z | 13 | ▼-10 | 0% | 1,040 | ▲62 |
| Total | 32,076 | ▼-411 | 100% | 897,650 | ▲88,471 |
Official Irish Prices as Reported by DAFM – WK 26 (03.07.2022)
| c/kg (Incl. VAT) | U3 | Change prev wk | R3 | Change prev wk | O3 | Change prev wk | P+3 | Change prev wk |
| Steers | 551 | ▼-11 | 542 | ▼-9 | 528 | ▼-9 | 491 | ▼-10 |
| Heifers | 562 | ▼-10 | 546 | ▼-8 | 537 | ▼-8 | 487 | ▼-12 |
| Y Bulls | 545 | ▼-5 | 532 | ▼-7 | 510 | ▼-8 | 494 | ▼-4 |
| Cows | 0 | ▲0 | 504 | ▼-7 | 480 | ▼-8 | 468 | ▼-10 |
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 |
| 25/06/2022 | 448.6 | 452.2 | 448.4 | 451.6 | 443.3 | 443.7 | 385.2 |
| 02/07/2022 | 450.3 | 455.1 | 444.5 | 448.4 | 451.6 | 443.9 | 445.3 |
| Change | ▲2 | ▲3 | ▲0 | ▲0 | ▲2 | ▲1 | ▲1 |
| Price in c/kg (Incl VAT) | 559.4 | 565.4 | 557.1 | 561.0 | 553.2 | 551.9 | 479.2 |
Euro Price for the Most Recent Week (€/KG Deadweight excl. VAT)
| Country & Type | 13.06.2020 | 12.06.2021 | 11.06.2022 |
| EU + Y Bulls | € 3.50 | € 3.87 | € 4.87 |
| IE + Steers | € 3.61 | € 4.15 | € 5.32 |
| UK + Steers | € 4.05 | € 4.58 | € 5.26 |
Sheep Update
IFA Sheep Committee Chairman Kevin Comiskey said lamb prices are ranging from €7.60/kg to €7.80/kg as factories struggle to meet demand from the market place.
Kevin Comiskey said exporters are also very active and are competing strongly with factory agents in marts where prices have increased by up to €5 for lambs.
Demand for cull ewes is firm with prices up to €4.40/kg paid.
Lamb Price Update: 07/07/2022
Lamb €7.40/7.80/kg. Higher deals groups/larger lots. Ewes €4.00/4.30/kg.
Supply Figures as Reported by DAFM – WK 26 (03.07.2022)
| Animal | Figure | Change | YTD | YTD Change |
| Lambs/Hoggets | 1,638 | ▼-1,056 | 890,117 | ▲196,259 |
| Spring Lambs | 45,411 | ▲3,641 | 320,948 | ▼-55,021 |
| Ewes and Rams | 8,049 | ▲1,626 | 143,516 | ▼-2,899 |
| Light Lambs | 0 | ▲0 | 89 | ▼-16 |
| TOTAL | 55,098 | ▲4,211 | 1,354,670 | ▲138,323 |
Official Irish Prices as Reported by DAFM – WK 26 (03.07.2022)
| c/kg (Incl. VAT) | WK 26 | Change prev wk | 2021 | Change prev yr |
| National Avg Price | 730.55 | ▼-31 | 617.14 | ▲113 |
| YTD Avg | 719.88 | ▲0 | 688.27 | ▲32 |
Official GB Prices as Reported by AHDB
| R3L | Overall SQQ* | Type of lamb | |
| 25-Jun-22 | 645.3 | 646.7 | New season |
| 02-Jul-22 | 637.2 | 637.9 | New season |
| Change | ▼-8 | ▼-9 | |
| Price in c/kg (Incl VAT) | 791.6 | 792.5 |
