IFA - Irish Farmers Association

06/28/2024 | Press release | Distributed by Public on 06/28/2024 10:01

Beef & Sheep Update 28th June

Beef Update

IFA Livestock Chairman Declan Hanrahan said beef prices remain steady this week. He said steers are making from €5.20kg to €5.30kg while heifers are ranging from €5.25kg to €5.30kg. Young bulls R and U grades are making from €5.30kg to €5.50. Cow prices are ranging from €5.30kg to €5.10kg. Declan Hanrahan said there are indications of tighter grass cattle supplies in the coming weeks due to poor weather conditions. UK prices remain strong, beef supplies across the EU are tight and demand for beef is expected to increase as the summer progresses. The positive supply demand balance in the coming weeks must return higher prices to beef farmers he said.

Beef Price Update 28/06/2024

Base Quotes Steer €5.20/5.30kg. Heifers €5.25/5.35kg. Higher deals and flat prices for larger and specialist lots. Y Bulls R/U €5.30/5.50Kg. Cows €4.30/5.10kg.

Supply Figures as Reported by DAFM - WK 25 (23.06.2024)

Animal Number Change prev wk % of total YTD YTD Change
Y Bulls 2,843 ▼-377 9% 62,363 ▼-5,030
Bull 671 ▼-101 2% 13,453 ▲48
Steer 9,996 ▲573 32% 296,255 ▼-63
Cow 9,050 ▲1,054 29% 206,849 ▲17,857
Heifer 8,253 ▲205 27% 244,301 ▲8,318
Veal-V 50 ▼-127 0% 19,130 ▼-11,284
Veal-Z 24 ▲7 0% 1,120 ▲120
Total 30,887 ▲1,234 100% 843,471 ▲3,665

Official Irish Prices as Reported by DAFM - WK 25 (23.06.2024)

c/kg (Incl. VAT) U3 Change prev wk R3 Change prev wk O3 Change prev wk P+3 Change prev wk
Steers 556 ▲0 546 ▼-1 536 ▲2 504 ▲1
Heifers 566 ▲0 551 ▲1 542 ▲1 491 ▼-1
Y Bulls 551 ▲3 538 ▲1 519 ▼-1 503 ▲0
Cows 0 ▲0 496 ▲0 459 ▲4 446 ▲4

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
15/06/2024 484.1 484.4 482.1 485.2 473.7 470.9 360.3
15/06/2024 483.9 485.7 482.6 486.1 474.0 470.7 386.5
Change ▼-0 ▲1 ▲1 ▲1 ▲0 ▼-0 ▲1
Price in c/kg (Incl VAT) 594.2 596.4 592.6 596.9 582.0 578.0 474.6

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

Country & Type 28.05.2022 27.05.2023 01.06.2024
EU + Y Bulls € 4.98 € 4.96 € 5.07
IE + Steers € 5.26 € 5.22 € 5.13
UK + Steers € 5.19 € 5.70 € 5.66

Live Cattle ExportsW/C 10.06.2024

[Link]Source: Bord Bia

Sheep Update

IFA Sheep Chairman Adrian Gallagher said further cuts to lamb price is unacceptable and must stop immediately. He said this practice of quoting prices that in way no reflect the market is angering farmers and is undermining producer groups who have made commitments to factories for the coming months. The IFA Sheep Chairman said lamb numbers are tight on the ground an there was no rational to weaken lamb prices. He said the tightening of number is reflected in the latest kill with throughput falling almost 16,000 head from the previous week. Adrian Gallagher has called on factories to be responsible in their pricing of lambs and hoggets, and to stand firm in the market place to maintain prices to sheep farmers. Spring lambs are making from €8.00kg to €8.30kg while hoggets are ranging from €7.00kg to €7.30kg. Cull ewes are making from €3.90kg to €4.30kg in general.

Lamb Price Update 28/06/2024

Spring Lamb €8.00/8.30/kg. Weights to 21.5kg. Hogget €7.00/7.30kg. Weights to 24kg. Higher deals groups/larger lots. Ewes €3.90/4.30/kg.

Supply Figures as Reported by DAFM - WK 25 (23.06.2024)

Animal Figure Change YTD YTD Change
Lambs/Hoggets 5,201 ▼-12,696 886,570 ▼-78,565
Spring Lambs 37,163 ▼-3,832 192,877 ▼-50,900
Ewes and Rams 4,679 ▲249 115,097 ▼-17,899
Light Lambs 5 ▲2 90 ▼-30
TOTAL 47,048 ▼-16,277 1,194,634 ▼-147,394

Official Irish Prices as Reported by DAFM - WK 25 (23.06.2024)

c/kg (Incl. VAT) This week Change prev. wk 2023 Change prev. yr
National Avg Price 861.14 ▼-39 675.73 ▲62
YTD Avg 733.19 ▲1 624.81 ▲132

Official GB Prices as Reported by AHDB

R3L Overall SQQ* Type of lamb
15/06/2024 810.4 810.7 Old season lamb
22/06/2024 782.0 780.0 Old season lamb
Change ▼-28 ▼-31
Price in c/kg (Incl VAT) 960.2 957.8 1

Live Sheep Exports March 31st 2024

[Link]Source: Bord Bia