Beef & Sheep Update 9th August

Beef Update

IFA Livestock Chairman Declan Hanrahan said improved market conditions and tightening supplies of cattle must be reflected with higher beef prices. He said UK prices are over 60c/kg above ours with EU prices strengthening further in the past week. Negative messaging from factories and their agents on price is at odds with the facts of the market and farmers should not be misled. Finished cattle supplies are tight and will tighten further in the coming weeks-based on projections for throughput for the year. Live export demand for store and finished cattle from Live exporters for NI and international markets is also adding important competition to the trade. Declan Hanrahan said the reality is factories are very anxious for cattle and are sourcing cattle for next day processing and paying prices 5/10c/kg above quotes. He said farmers should strongly resist any attempts by factories to buy cattle at lower prices. This week steer prices are ranging from €4.95kg to €5.10kg and heifers €5.00kg to €5.15kg. Young bulls R and U grades are ranging from €5.10kg to €5.30kg. Cows are making from €4.30kg to €4.80kg depending on the grade.

Beef Price Update 08/08/2024

Base Quotes Steer €4.95/5.10kg. Heifers €5.00/5.15kg. Higher deals and flat prices for larger and specialist lots. Y Bulls R/U €5.10/5.30Kg. Cows €4.30/4.80kg.

Supply Figures as Reported by DAFM - WK 31 (04.08.2024)

Official Irish Prices as Reported by DAFM - WK 31 (04.08.2024)

Official GB Prices as Reported by AHDB

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

LIVE EXPORTSW/C 29.07.2024

Sheep Update

IFA Sheep Chairman Adrian Gallagher said factory demand for lambs is strong as prices continue upwards this week. He said factory agents are very active over the past number of days trying secure number of suitable lambs for slaughter as number continue to tighten. Factories are offering deals from €7.25kg to €7.55kg for lambs on weights to 22kg with the higher price becoming a lot easier to negotiate. Cull ewes in general are making from €3.90kg to €4.40kg with some deals above these prices secured. He said store lamb sales have started positively but its crucial factories maintain strong and fair prices to underpin the trade for the remainder of the year. Adrian Gallagher said farmers should sell hard as lambs become fit and consider the mart outlet where agents, butchers and wholesaler are competing very strongly for the limited number of finished lambs available.

Lamb Price Update 08/08/2024

Spring Lamb €7.25kg/7.55kg. Weights to 22kg. Hogget €6.00/6.40/kg. Weights to 24kg. Higher deals groups/larger lots. Ewes €3.90/4.40/kg.

Supply Figures as Reported by DAFM - WK 31 (04.08.2024)

Official Irish Prices as Reported by DAFM - WK 31 (04.08.2024)

Official GB Prices as Reported by AHDB

Live Sheep exports 30^th June 2024

Public link

Please use the above public link if you want to share this noodl on another website.