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Beef & Sheep Update

Cattle and Sheep in field, Wicklow, Ireland

Beef Update

IFA livestock chairman Brendan Golden said demand for beef is extremely strong with UK and EU prices rising sharply in the past week. He said while our prices have risen again this week the weekly 5c/kg increases is leaving our prices lagging behind what is available from the market place in our key markets. He said prices are currently the equivalent of 50c/kg behind UK prices and 22c/kg below the prime export benchmark price. He said input inflation has eroded virtually all of the price gains from this time last year and prices must push on to cover the enormous cost challenges beef farmers are exposed to. He factories are not leaving any cattle behind and are prepared to do deals significantly above quoted prices to secure supplies. Brendan Golden said farmers should sell hard in a strengthening beef market where prices in our key export markets clearly show opportunity for stronger price returns to farmers.

Beef Price Update 07/04/2022

Steer Base €4.70/4.90kg. Heifers €4.75/4.95kg. Higher deals and flat prices for larger and specialist lots. Y Bulls R/U €4.70/4.95Kg. Cows €4.00/4.70kg.

Supply Figures as Reported by DAFM – Week 13 (28.03.2022)

AnimalNumberChange prev. wk.% of totalYTDYTD Change
Y Bulls2,544▲2907%41,521▲1,585
Bull654▼-111 2%6,583▲1,120
Steer13,600▼-202 35%157,457▲10,233
Veal-V1,765▼-988 5%24,118▲5,723
Total38,346▼-822 100%462,164▲43,584

Official Irish Prices as Reported by DAFM – Week 13 (28.03.2022)

c/kg (Incl. VAT)U3Change prev wkR3Changeprev wkO3Changeprev wkP+3Changeprev wk
Y Bulls496▲6485▲6466▲3455▲4

Official GB Prices as Reported by AHDB

 SteersSteersHeifersHeifersY bullY bullCow
Price in c/kg(Incl VAT)551.7553.7550.9553.6545.0540.7460.2

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

Country & Type28.03.202027.03.202126.03.2022
EU + Y Bulls€ 3.52€ 3.74€ 5.16
IE + Steers€ 3.65€ 3.83€ 4.76
UK + Steers € 3.74€ 4.58€ 5.08

Live Exports W/C 28.03.2021

Source: Bord Bia

Sheep Update

IFA Sheep Committee Chairman Kevin Comiskey said hogget prices have edged upwards again this week but are still trending below this time last year. He said sheep farmers are feeling the brunt of the current input cost inflation and none of this is reflected in the current prices offered. He said sheep farmers are facing into potential cost increases of upwards of €40/ewe while prices remain below last years levels. He said sheep meat prices in the UK and EU are on an upward trajectory with particularly strong increases in UK prices over the past week. Kevin Comiskey said hogget and lamb prices must reflect the additional costs on sheep farms and factories must move to return these additional costs in prices paid to farmers, he said price movements in the UK and EU markets is a clear indication of demand in the market place. Kevin said demand for lamb is at peak with Easter and Ramadan and this must be returned in higher prices to farmers.

Lamb Price Update 07/04/2022

Hogget €7.20/7.60/kg. Spring lamb €8.50/kg. Higher deals groups/larger lots. Ewes €3.80/4.00/kg. Sell hard.

Supply Figures as Reported by DAFM – Week 13 (28.03.2022)

AnimalFigureChangeYTD YTD Change
Spring Lambs1,124▲4452,364▲974
Ewes and Rams4,078▼-264 66,241▼-2,840 
Light Lambs0▼-1 26▼-56 

Official Irish Prices as Reported by DAFM – Week 13 (28.03.2022)

c/kg (Incl. VAT)WK 13 Change prev wk2021Change prev yr
National Avg Price719.88▲15723.63▼-4 
YTD Avg684.78▲3645.23▲40

Official GB Prices as Reported by AHDB

 R3L Overall SQQ*Type of lamb
26.03.2022568.9566.0Old season
19.03.2022578.6576.1Old season
Price in c/kg (Incl VAT)736.1733.0 
Source: Bord Bia

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