Beef Update
IFA Livestock Chairman Brendan Golden said beef prices have steadied this week as supplies of finished cattle tighten on the ground.
He said Factories are actively sourcing suitable cattle and are leaving no stock behind paying 10-15c/kg above base quotes to close out deals.
Factories are paying €4.80-5.00kg for steers and €4.85-5.05kg for heifers. Y Bulls are ranging from €4.70-5.05kg for R/U grades and cows are making €4.40-5.00kg.
He said the Irish prime composite price of €4.82/kg is now 19c/kg below the Prime export benchmark of €5.01c/kg and factories must reflect this market situation with stronger beef prices.
The IFA Livestock Chairman said farmers should dig in and sell hard as supplies of prime cattle are well short of market demand.
Beef Price Update 04/08/2022
Steer Base €4.80/5.00/kg. Heifers €4.85/5.05/kg. Higher deals and flat prices for larger and specialist lots. Y Bulls R/U €4.70/5.05Kg. Cows €4.40/5.00kg.
Supply Figures as Reported by DAFM – WK 30 (31.07.2022)
| Animal | Number | Change prev wk | % of total | YTD | YTD Change |
| Y Bulls | 2,121 | ▼-477 | 6% | 88,124 | ▲4,394 |
| Bull | 683 | ▲78 | 2% | 16,737 | ▲1,209 |
| Steer | 15,111 | ▲1,177 | 44% | 372,474 | ▲25,080 |
| Cow | 7,320 | ▼-506 | 21% | 236,602 | ▲34,782 |
| Heifer | 8,976 | ▲197 | 26% | 288,787 | ▲17,101 |
| Veal-V | 3 | ▲2 | 0% | 27,918 | ▲7,304 |
| Veal-Z | 22 | ▼-1 | 0% | 1,110 | ▲43 |
| Total | 34,236 | ▲470 | 100% | 1,031,752 | ▲89,913 |
Official Irish Prices as Reported by DAFM – WK 30 (31.07.2022)
| c/kg (Incl. VAT) | U3 | Change prev wk | R3 | Change prev wk | O3 | Change prev wk | P+3 | Change prev wk |
| Steers | 520 | ▼-3 | 510 | ▼-3 | 494 | ▼-3 | 462 | ▼-3 |
| Heifers | 531 | ▼-2 | 516 | ▼-1 | 506 | ▼-1 | 457 | ▼-4 |
| Y Bulls | 514 | ▼-6 | 495 | ▼-13 | 478 | ▼-1 | 464 | ▲2 |
| Cows | 0 | ▲0 | 479 | ▼-7 | 459 | ▼-1 | 446 | ▼-3 |
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 |
| 23/07/2022 | 445.6 | 450.8 | 444.9 | 450.5 | 437.5 | 439.2 | 376.4 |
| 30/07/2022 | 444.6 | 451.0 | 439.4 | 444.6 | 448.9 | 439.0 | 435.6 |
| Change | ▼-1 | ▲0 | ▼-0 | ▼-2 | ▼-2 | ▼-4 | ▼-2 |
| Price in c/kg (Incl VAT) | 558.9 | 567.0 | 558.9 | 564.3 | 547.6 | 547.5 | 470.9 |
Euro Price for the Most Recent Week (€/KG Deadweight excl. VAT)
| Country & Type | 01/08/2020 | 31/07/2021 | 30/07/2022 |
| EU + Y Bulls | € 3.53 | € 3.87 | € 4.96 |
| IE + Steers | € 3.75 | € 4.28 | € 4.83 |
| UK + Steers | € 4.11 | € 4.73 | € 5.23 |
Live Exports W/C 25.07.2022
Sheep Update
IFA Sheep Chairman Kevin Comiskey said supplies of suitable finished lambs are tight on the ground and there was no justification for the cuts imposed by factories this week. Factories are offering deals up to €6.70kg for lambs but are meeting very strong resistance from farmers he said. Cull ewes are ranging from €3.50-3.80kg.
He said Bord Bia predict supplies of imported lamb into the EU market will remain low for the remainder of the year, while EU lamb production is forecast to be back 2%, creating favourable conditions for Irish lamb. Factory agents and wholesalers are very active in marts providing a real competitive alternative, particularly to the lower factory quoted prices he said. He said lamb numbers are tight, market demand is strong and farmers should only sell lambs as they become fit to maximise returns.
Lamb Price Update 04/08/2022
Lamb €6.40/6.70/kg. Higher deals groups/larger lots. Ewes €3.40/3.80/kg.
Supply Figures as Reported by DAFM – WK 30 (31.07.2022)
| Animal | Figure | Change | YTD | YTD Change |
| Lambs/Hoggets | 373 | ▼-70 | 893,569 | ▲198,264 |
| Spring Lambs | 48,067 | ▼-61 | 530,705 | ▼-71,421 |
| Ewes and Rams | 8,616 | ▲659 | 176,445 | ▼-1,097 |
| Light Lambs | 1 | ▼-6 | 105 | ▲0 |
| TOTAL | 57,057 | ▲522 | 1,600,824 | ▲125,746 |
Official Irish Prices as Reported by DAFM – WK 30 (31.07.2022)
| c/kg(Incl. VAT) | WK 30 | Change prev wk | 2021 | Change prev yr |
| National Avg Price | 661.57 | ▼-22 | 605.61 | ▲56 |
| YTD Avg | 717.24 | ▼-2 | 678.98 | ▲38 |
Official GB Prices as Reported by AHDB
| R3L | Overall SQQ* | Type of lamb | |
| 23-Jul-22 | 621.7 | 622.5 | New season |
| 23/07/2022 | 575.7 | 574.5 | New season |
| Change | ▼-46 | ▼-48 | |
| Price in c/kg (Incl VAT) | 723.7 | 722.2 |
Live Sheep Exports 2022 18/07/2022
