Beef & Sheep UpdateCattleCattle PricesSheepSheep Prices

Beef & Sheep Update 8th October

Cattle and Sheep in Wicklow Field, Ireland

Beef Update

IFA livestock chairman Brendan Golden has hit out at the opportunism of factories in reducing beef prices while the Export Benchmark Price show market conditions to be steady. He said the continual price pressure exerted by factories over the past number of weeks has now dropped our price to 28c/kg below the benchmark price. Brendan Golden said the behaviour of factories is very irresponsible and opportunistic given the challenges beef farmers face. The IFA livestock chairman said factories and indeed retailers are acutely aware of the production costs on farms which have again been verified by the most recent Teagasc Situation and Outlook report. The report shows input costs increasing by 29% and FFI decreasing by €20/ha as a result of market failure to return these increased costs. He said there is capacity in the market place for higher beef prices and factories must close the gap with the Prime Export Benchmark price.

Beef Price Update 06/10/2022

Steer Base €4.65/4.75kg. Heifers €4.70/4.80kg. Higher deals and flat prices for larger and specialist lots. Y Bulls R/U €4.70/4.90Kg. Cows €4.30/4.90kg.

Supply Figures as Reported by DAFM – WK 39 (02.10.2022)

AnimalNumberChange prev wk% of totalYTDYTD Change
Y Bulls1,557▼-277 4%102,538▲5,469
Bull510▼-50 1%22,221▲1,320
Cow6,813▼-118 18%295,900▲39,407
Veal-V17▼-12 0%28,079▲7,288

Official Irish Prices as Reported by DAFM – WK 39 (02.10.2022)

c/kg (Incl. VAT)U3Change prev wkR3Change prev wkO3Change prev wkP+3Changeprev wk
Steers504▼-4 494▼-3 475▼-3 445▼-1 
Heifers511▼-2 498▼-3 485▼-2 445▲7
Y Bulls488▼-4 480▼-1 461▲0454▲10
Cows0▲0467▼-4 446▼-2 431▼-3 

Official GB Prices as Reported by AHDB

 SteersSteersHeifersHeifersY bullY bullCow
Change▼-1 ▼-1 ▼-0 ▼-1 ▼-2 ▼-1 ▼-0 
Price in c/kg (Incl VAT)535.0538.6533.8537.7523.9525.2445.0

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

Country & Type26.09.202025.09.202124.09.2022
EU + Y Bulls€ 3.51€ 4.03€ 4.97
IE + Steers€ 3.62€ 4.18€ 4.71
UK + Steers € 4.05€ 4.82€ 5.08

Live Exports W/C 19.09.2022

Sheep Update

IFA Sheep committee chairman Kevin Comiskey said Minister Hackett must do more to resolve the collapse in wool prices off farm. The IFA sheep committee chairman as speaking having returned from a meeting with British Wool in Bradford last week. He said the industry in the UK have led in developing a brand and maximising the value of wool for UK farmers through British Wool and lessons need to be learned from this approach. Kevin Comiskey said despite the undeniable environmental credentials of wool for upgrading from a waste material to a renewable resource for the production of multiple products Minister Hacket has spent €100,000 on a study that merely told us what everybody in the sector already knew and since the publication of the report has gone silent on the issue. He said the Minister failed to take advantage of the opportunity presented to support farmers in shearing costs and in the presentation of wool to optimise its further use potential through supports in the Sheep Improvement Scheme in the CAP and subsequently in the budget.

Lamb Price Update 06/10/2022

Lamb €6.10/6.40/kg to 22kg. Higher deals groups/larger lots. Ewes €3.00/3.50/kg.

Supply Figures as Reported by DAFM – WK 39 (02.10.2022)

AnimalFigureChangeYTDYTD Change
Lambs/Hoggets714▼-497 899,811▲202,471
Spring Lambs52,455▲331978,297▼-80,089 
Ewes and Rams12,061▼-702 275,975▲13,625
Light Lambs2▲1116▼-2 
TOTAL65,232▼-867 2,154,199▲136,005

Official Irish Prices as Reported by DAFM – WK 39 (02.10.2022)

c/kg (Incl. VAT)WK 39 Change prev wk2021Changeprev yr
National Avg Price614.29▼-2 606.69▲8
YTD Avg695.63▼-2 661.33▲34

Official GB Prices as Reported by AHDB

 R3L Overall SQQ*Type of lamb
24-Sep-22527.7524.8New season
01-Oct-22525.5522.4New season
Change▼-2 ▼-2  
Price in c/kg (Incl VAT)630.6626.9 

Live Sheep Exports 18/07/2022

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