Beef & Sheep Update 2nd August

Beef Update

IFA National Livestock Chair Declan Hanrahan said there is no hiding place for the Minister for Agriculture Charlie McConalogue or his Government colleagues as the National Farm Survey results from Teagasc lay bare the harsh realities of the income situation of suckler and beef farms, with suckler incomes dropping to the lowest levels recorded. He said low incomes and a flawed approach to the CAP, which has drained supports from our most productive suckler and beef farmers, is leaving the entire sector in a very precarious situation. A drop of 15% in Family Farm Income in this already low-income vulnerable sector has brought incomes to the lowest levels ever recorded for suckler farms, a situation that is not sustainable and cannot be allowed to continue by the Minister for Agriculture and Government. "Suckler farmers depend on direct supports for over 230% of FFI. He said the decline of the suckler herd will only be stopped when the direct supports on the cow are brought to at least €300/cow in schemes that are practical to implement. We have €200/hd in supports for the first 22 cows, but a significant chunk of these supports is eroded from costs, which is reducing the value of the supports and also hindering farmer participation. They must come forward with funding in the upcoming Budget to provide total targeted payments of €300/cow for suckler cows and cattle rearing, and finishing supports of €100/animal for both the rearing and finishing phases for beef farmers.

Beef Price Update 01/08/2024

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 €4.30/5.00kg.

Supply Figures as Reported by DAFM - WK 23 (28.07.2024)

Official Irish Prices as Reported by DAFM - WK 30 (28.07.2024)

Official GB Prices as Reported by AHDB

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

LIVE EXPORTSW/C 22.07.2024

Sheep Update

IFA Sheep Chairman Adrian Gallagher said lamb prices remain steady this week with increased appetite from factories for supplies of suitable lambs. He said this week base quotes are not reflecting prices paid to farmers as factories are offering deals up to €7.40kg on weights to 22kg for spring lambs. Demand for lamb in or key export markets has improved with UK and French prices for lamb increasing following a number of weeks of downward pressure. Adrian Gallagher said factories must follow suit and increase prices in line with our key exports markets. He said the mart trade remains a viable outlet for farmers as lamb prices exceed what factories are offering in a lot in instances. Cull ewes are making from €3.90kg to €4.40kg in general. Adrian Gallagher farmers should weigh up their options when marketing lambs and sell hard as they become fit.

Lamb Price Update 25/07/2024

Spring Lamb €7.25kg/7.40kg. Weights to 22kg. Hogget €6.00/6.35/kg. Weights to 24kg. Higher deals groups/larger lots. Ewes €3.90/4.30/kg.

Supply Figures as Reported by DAFM - WK 30 (28.07.2024)

Official Irish Prices as Reported by DAFM - WK 30 (28.07.2024)

Official GB Prices as Reported by AHDB

Live Sheep Exports 30^th June 2024

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