Beef Update
IFA Livestock Chairman Brendan Golden said supplies of suitable finished cattle are tight on the ground and despite attempts by factories to reduce quotes demand is strong.
He said prices in the UK have strengthened in the past week after a few weeks of stable prices which is offsetting the weakening in EU prices.
Brendan Golden said strong and stable beef prices in the coming months are vital as suckler and beef farmers deal with input cost increases that these farms do not have the capacity to absorb.
He said supplies are predicted to tighten further and improved demand for beef over the summer months should underpin the trade.
Beef Price Update 23/06/2022
Steer Base €5.10/5.20kg. Heifers €5.15/5.25kg. Higher deals and flat prices for larger and specialist lots. Y Bulls R/U €5.10/5.30Kg. Cows €4.60/5.10kg.
Supply Figures as Reported by DAFM – WK 24 (19.06.2022)
| Animal | Number | Change prev wk | % of total | YTD | YTD Change |
| Y Bulls | 3,433 | ▲255 | 11% | 72,133 | ▲1,627 |
| Bull | 508 | ▼-4 | 2% | 13,058 | ▲876 |
| Steer | 10,839 | ▲1,189 | 34% | 294,741 | ▲27,543 |
| Cow | 8,718 | ▲4 | 27% | 188,118 | ▲30,982 |
| Heifer | 8,418 | ▲402 | 26% | 236,133 | ▲16,859 |
| Veal-V | 24 | ▲16 | 0% | 27,900 | ▲7,355 |
| Veal-Z | 28 | ▼-6 | 0% | 1,004 | ▲62 |
| Total | 31,968 | ▲1,856 | 100% | 833,087 | ▲85,304 |
Official Irish Prices as Reported by DAFM – WK 24 (19.06.2022)
| c/kg (Incl. VAT) | U3 | Changeprev wk | R3 | Change prev wk | O3 | Change prev wk | P+3 | Change prev wk |
| Steers | 567 | ▼-3 | 557 | ▼-5 | 548 | ▼-2 | 511 | ▼-8 |
| Heifers | 578 | ▲1 | 562 | ▼-2 | 555 | ▼-3 | 502 | ▼-11 |
| Y Bulls | 560 | ▲1 | 548 | ▼-2 | 525 | ▼-1 | 514 | ▼-3 |
| Cows | 0 | ▲0 | 517 | ▼-2 | 495 | ▼-4 | 485 | ▼-5 |
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 |
| 11/06/2022 | 447.1 | 450.6 | 447.5 | 450.7 | 440.8 | 441.9 | 377.8 |
| 18/06/2022 | 447.9 | 451.0 | 442.9 | 449.5 | 451.9 | 443.1 | 443.1 |
| Change | ▲1 | ▲0 | ▲2 | ▲1 | ▲2 | ▲2 | ▲3 |
| Price in c/kg (Incl VAT) | 550.0 | 553.8 | 551.9 | 554.9 | 544.1 | 544.9 | 468.0 |
Euro Price for the Most Recent Week (€/KG Deadweight excl. VAT)
| Country & Type | 13.06.2020 | 12.06.2021 | 11.06.2022 |
| EU + Y Bulls | € 3.50 | € 3.87 | € 4.87 |
| IE + Steers | € 3.61 | € 4.15 | € 5.32 |
| UK + Steers | € 4.05 | € 4.58 | € 5.26 |
Sheep Update
IFA Sheep Committee Chairman Kevin Comiskey said factories are reluctant to pass €7.90/kg for lambs for next week with prices from €7.70/kg to €7.90/kg the general run. He said cull ewe prices are holding firm with prices ranging from €4.00 to €4.30/kg. The IFA Sheep Chairman said spring lamb numbers remain low on the ground and demand for sheep meat will increase as the Eid al Adha festival approaches on 9th July. Kevin Comiskey said lamb prices have come under pressure in the UK and to a lesser extent in France in recent days, these markets should improve with the increased demand for sheep meat for the upcoming festival. He said while lamb prices are still over €1/kg ahead of this time last year in reality input costs have eroded all of this gain and low-income sheep farms do not have the capacity to absorb this level of cost increase. Kevin Comiskey said factories must stand firm in the market place to maximise returns to sheep farmers through higher lamb prices to offset these costs.
Lamb Price Update 24/06/2022
Hogget €6.50/7.00/kg. Spr lamb €7.60/7.90/kg. Weights to 21kg. Higher deals groups/larger lots. Ewes €4.00/4.40/kg.
Supply Figures as Reported by DAFM – WK 24 (19.06.2022)
| Animal | Figure | Change | YTD | YTD Change |
| Lambs/Hoggets | 3,770 | ▼-1,967 | 885,785 | ▲193,664 |
| Spring Lambs | 42,598 | ▲5,448 | 233,767 | ▼-44,299 |
| Ewes and Rams | 6,864 | ▲1,532 | 129,003 | ▼-4,394 |
| Light Lambs | 5 | ▲5 | 89 | ▼-16 |
| TOTAL | 53,237 | ▲5,018 | 1,248,644 | ▲144,955 |
Official Irish Prices as Reported by DAFM – WK 24 (19.06.2022)
| c/kg (Incl. VAT) | WK 24 | Change prev wk | 2021 | Change prev yr |
| National Avg Price | 800.22 | ▲12 | 703.65 | ▲97 |
| YTD Avg | 717.68 | ▲4 | 692.21 | ▲25 |
Official GB Prices as Reported by AHDB
| R3L | Overall SQQ* | Type of lamb | |
| 11/06/2022 | 690.5 | 692.9 | New season |
| 18/06/2022 | 660.2 | 662.6 | New season |
| Change | ▼-30 | ▼-30 | |
| Price in c/kg (Incl VAT) | 810.7 | 813.6 |
