Beef & Sheep Update 3rd February

Beef Update

IFA Livestock Chairman Brendan Golden met with senior Department of Agriculture officials last week in advance of the Terms and Conditions for the Suckler Carbon Efficiency scheme being finalised. He highlighted a number of issues that must be taken into account before the scheme opens in mid-March. “IFA has objected from the outset to the compulsory requirement for farms to be in the Bord Bia QA for the scheme. He said Quality Assurance is a market requirement and must be rewarded from the market place. It’s neither appropriate nor acceptable that suckler farmers will be forced to become Bord Bia Quality Assured in order to be eligible. He said the objective in developing the Terms and Conditions for this scheme must be to facilitate the maximum number of farmer participants by ensuring the criteria is practical, deliverable on farm and does not involve unnecessary bureaucracy.

Beef Price Update 02/02/2023

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 €5.10/5.50Kg. Cows €4.50/5.20kg.

Supply Figures as Reported by DAFM – WK 04 (29.01.2023)

Animal	Number	Change prev wk	% of total	YTD	YTD Change
Y Bulls	3671	▲323	11%	14414	▼-1,052
Bull	344	▲50	1%	1196	▲40
Steer	11409	▲233	33%	43507	▼-1,041
Cow	9004	▲409	26%	31133	▲5,358
Heifer	10304	▼-33	30%	41005	▼-197
Veal-V	25	▲20	0%	57	▼-5
Veal-Z	113	▲84	0%	234	▲48
Total	34870	▲1,086	100%	131546	▲3,151

Official Irish Prices as Reported by DAFM – WK 04 (29.01.2023)

c/kg (Incl. VAT)	U3	Change prev wk	R3	Change prev wk	O3	Change prev wk	P+3	Change prev wk
Steers	554	▲11	547	▲5	538	▲5	507	▲5
Heifers	566	▲5	551	▲3	546	▲4	499	▲4
Y Bulls	542	▲4	532	▲3	518	▲5	511	▲8
Cows	0	▲0	497	▲3	468	▲5	452	▲6

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
21/01/2023	462.2	464.2	462	464	449.6	448.5	378.4
28/01/2023	466.7	467.5	458.8	465.2	466.9	457.5	453.1
Change	▲5	▲3	▲3	▲3	▲4	▼-2	▲3
Price in c/kg (Incl VAT)	560.0	561.0	558.2	560.3	543.7	536.4	458.0

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

Country & Type	23.01.2021	22.01.2022	28.01.2023
EU + Y Bulls	€ 3.66	€ 4.54	€ 5.14
IE + Steers	€ 3.83	€ 4.32	€ 5.21
UK + Steers	€ 4.32	€ 4.91	€ 5.27

---

Sheep Update

IFA Sheep Chairman Kevin Comiskey said the Department of Agriculture must take further action with the new Sheep Improvement Scheme terms and conditions. Following a meeting with senior Department officials, he said further amendments are needed if farmers are to avoid penalties. Teagasc has clearly outlined the importance of the targeted ewe payment in maintaining margins on sheep farms. The €12/ewe payment must be built on to provide €30/ewe and the existing scheme must be developed in a way that ensures all farmers applying receive the €12/ewe payment. All new entrants and existing farmers who do not apply in the first year must also be accepted into the scheme if it is decided to partake in subsequent years. The IFA Sheep Chairman said the DAFM must recognise the complexities farmers will face through these actions and they must be addressed immediately.

Lamb Price Update 02/02/2023

Lamb €6.20/6.50/kg. Higher deals groups/larger lots. Ewes €3.20/3.50/kg.

Supply Figures as Reported by DAFM – WK 04 (29.01.2023)

Animal	Figure	Change	YTD	YTD Change
Lambs/Hoggets	44064	▲3,186	182820	▲9,965
Spring Lambs	0	▲0	0	▲0
Ewes and Rams	5946	▼-1,179	26348	▲2,247
Light Lambs	3	▲0	13	▼-6
TOTAL	50013	▲2,007	209181	▲12,206

Official Irish Prices as Reported by DAFM – WK 04 (29.01.2023)

c/kg (Incl. VAT)	WK 04	Change prev wk	2022	Change prev yr
National Avg Price	613.42	▲13	652.97	▼-40
YTD Avg	622.83	▼-3	680.03	▼-57

Official GB Prices as Reported by AHDB

	R3L	Overall SQQ*	Type of lamb
21/01/2023	508.8	502.5	Old season lamb
28/01/2023	514.7	510.2	Old season lamb
Change	▲6	▲8
Price in c/kg(Incl VAT)	617.6	605.4