Beef & Sheep Update 10th February

Beef Update

IFA National Livestock Chairman Brendan Golden said that the beef quotes remain steady and supplies of cattle are tight this week, especially for finished animals. 

The tight supply and steady demand is resulting in prices of €5.25/5.35kg being available for steers and heifers making €5.30/5.40kg.

“€4.50/5.20kg is available for cows this week and R/U grading young bulls making €5.10/5.50Kg” he said. The IFA Livestock chairman reminded farmers that the mart ring is a lucrative option for some farmers and that factory agents remain highly active around mart rings.

Beef Price Update 09/02/2023

Base Quotes Steer €5.25/5.35kg. Heifers €5.30/5.40kg. 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 05 (05.02.2023)

Animal	Number	Change prev wk	% of total	YTD	YTD Change
Y Bulls	3360	▼-311	9%	17779	▼-1,378
Bull	459	▲115	1%	1655	▲170
Steer	12423	▲1,014	34%	55941	▼-1,262
Cow	8987	▼-17	25%	40121	▲6,391
Heifer	10751	▲447	30%	51767	▼-762
Veal-V	166	▲141	0%	223	▲2
Veal-Z	25	▼-88	0%	259	▲1
Total	36171	▲1,301	100%	167745	▲3,162

Official Irish Prices as Reported by DAFM – WK 05 (05.02.2023)

c/kg (Incl. VAT)	U3	Change prev wk	R3	Change prev wk	O3	Change prev wk	P+3	Change prev wk
Steers	562	▲8	552	▲5	542	▲4	511	▲4
Heifers	569	▲3	556	▲5	549	▲3	500	▲1
Y Bulls	546	▲4	535	▲3	523	▲5	514	▲3
Cows	0	▲0	507	▲10	472	▲4	456	▲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
28/01/2023	466.7	467.5	465.2	466.9	453.1	447	381.7
04/02/2023	471.0	472.9	464.4	470.7	472.4	463.5	457.0
Change	▲4	▲5	▲6	▲6	▲4	▲10	▲2
Price in c/kg (Incl VAT)	558.8	561.1	558.5	560.5	542.2	542.2	455.5

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

Country & Type	2021	29.01.2022	04.02.2023
EU + Y Bulls	Figures	€ 4.57	€ 5.13
IE + Steers	Not	€ 4.33	€ 5.26
UK + Steers	Availabl	€ 4.91	€ 5.25

Live Exports W/C 23.01.2023

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Sheep Update

IFA will hold a protest in Roscommon Town on Mon morning (Feb 13th) to highlight the deepening income crisis on sheep farms. IFA President Tim Cullinan said the latest price cut has angered sheep farmers who are grappling with very severe input costs. The protest will assemble at Roscommon mart at 10.30am. “The margins on sheep farms have been trimmed to the bone, having fallen by 81% to just €7/ewe, which includes the Sheep Welfare Scheme payment. Factories cannot expect producers to keep going on this margin,” he said.

IFA Sheep Chairman Kevin Comiskey said the level of anger among farmers at the meeting in Tuam on Wed night with the Government’s failure to support the sector was plain for all to see. He said the challenges facing the sector were pointed out last Spring to the Minister. No action was taken by him and sheep farmers paid a heavy price with incomes effectively wiped out, dropping by over 80% to €7/ewe through a combination of input cost increases and market failures.

Lamb Price Update 09/02/2023

Lamb €6.10/6.40/kg. Higher deals groups/larger lots. Ewes €3.00/3.40/kg.

Supply Figures as Reported by DAFM – WK 05 (05.02.2023)

Animal	Figure	Change	YTD	YTD Change
Lambs/Hoggets	50684	▲6,620	233504	▲14,203
Spring Lambs	0	▲0	0	▲0
Ewes and Rams	6686	▲740	33034	▲2,626
Light Lambs	7	▲4	20	▲1
TOTAL	57377	▲7,364	266558	▲16,830

Official Irish Prices as Reported by DAFM – WK 05 (05.02.2023)

c/kg (Incl. VAT)	WK 05	Change prev wk	2022	Change prev yr
National Avg Price	613.48	▲0	674.41	▼-61
YTD Avg	620.16	▼-3	678.90	▼-59

Official GB Prices as Reported by AHDB

	R3L	Overall SQQ*	Type of lamb
28/01/2023	514.7	510.2	Old season lamb
04/02/2023	511.6	506.2	Old season lamb
Change	▼-3	▼-4
Price in c/kg(Incl VAT)	607.0	600.6

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Live Sheep Exports 14/10/2022