Beef Update
IFA National Livestock Chair Brendan Golden said improving market conditions and tightening of supplies must be reflected in beef prices. He said beef farmers have been operating well below the breakeven price projected by Teagasc for the year to-date, losing over €100m for the first 6 months of the year, a situation compounded by the cuts of over 30c/kg in the past month to beef prices by factories.
He said as markets rebound and supplies tighten factories must start reflecting this reality in higher beef prices. He said beef prices in the UK are over 60c/kg above ours, EU prices have strengthened in recent weeks all contributing to a much stronger Prime Export Benchmark Tracker price compiled by Bord Bia.
The Prime Export Benchmark Price is now effectively on par with our price, rising 30c/kg over the past two weeks, reflecting the turnaround in market conditions in our key export markets. He said these improving market conditions have added significance as supplies of finished cattle tighten on the ground. He said factories have no hiding place and must reflect the reality of the market place in stronger beef prices.
Beef Price Update 14/07/2023
Base Quotes Steer €4.80/4.90kg. Heifers €4.85/4.95kg. Higher deals and flat prices for larger and specialist lots. Y Bulls R/U €4.95/5.15Kg. Cows €4.00/4.60kg.
Supply Figures as Reported by DAFM – WK 27 (09.07.2023)
| Animal | Number | Change prev wk | % of total | YTD | YTD Change |
| Y Bulls | 2703 | ▼-359 | 8% | 73158 | ▼-7,585 |
| Bull | 530 | ▼-205 | 2% | 14728 | ▼-73 |
| Steer | 11550 | ▼-141 | 35% | 319555 | ▼-10,775 |
| Cow | 8503 | ▼-215 | 26% | 206208 | ▼-7,314 |
| Heifer | 9301 | ▲547 | 28% | 254037 | ▼-8,309 |
| Veal-V | 6 | ▲3 | 0% | 30424 | ▲2,513 |
| Veal-Z | 48 | ▲30 | 0% | 1065 | ▲12 |
| Total | 32641 | ▼-340 | 100% | 899175 | ▼-31,531 |
Official Irish Prices as Reported by DAFM – WK 27 (09.07.2023)
| c/kg (Incl. VAT) | U3 | Change prev wk | R3 | Change prev wk | O3 | Change prev wk | P+3 | Change prev wk |
| Steers | 530 | ▼-6 | 518 | ▼-6 | 503 | ▼-5 | 467 | ▼-6 |
| Heifers | 544 | ▼-7 | 525 | ▼-5 | 510 | ▼-9 | 465 | ▼-2 |
| Y Bulls | 522 | ▼-7 | 534 | ▲20 | 484 | ▼-9 | 466 | ▼-15 |
| Cows | 0 | ▲0 | 452 | ▼-15 | 419 | ▼-6 | 406 | ▼-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 |
| 01/07/2023 | 484.6 | 489.9 | 483.5 | 488.1 | 479.3 | 479.2 | 392.6 |
| 08/07/2023 | 482.7 | 485.9 | 474.9 | 481.6 | 484.6 | 473.4 | 474.4 |
| Change | ▼-2 | ▼-4 | ▼-2 | ▼-4 | ▼-5 | ▼-8 | ▼-2 |
| Price in c/kg (Incl VAT) | 592.7 | 596.6 | 591.4 | 595.0 | 582.5 | 579.2 | 479.1 |
Euro Price for the Most Recent Week (€/KG Deadweight excl. VAT)
| Country & Type | 26.06.2021 | 25.06.2022 | 01.07.2023 |
| EU + Y Bulls | € 3.89 | € 4.91 | € 4.93 |
| IE + Steers | € 4.22 | € 5.23 | € 4.99 |
| UK + Steers | € 4.66 | € 5.22 | € 5.60 |
Live Exports W/C 26.06.2023
Sheep Upate
IFA Sheep Chairman Kevin Comiskey said lamb prices remain steady as supplies of lamb drop off.
He said overall throughput for the most recent week fell 8,845/head while spring lamb throughput fell 7,649/head in the same period.
He said factories are very anxious for lambs and are active in marts competing for the limited supplies available.
He said prices are comparable to and above what factories are offering in cases and farmers should be mindful of this viable alternative. He said lambs are making from €7.20kg to €7.50kg with higher deals for groups and larger lots.
Cull ewes are ranging from €3.20kg to €3.60kg. Kevin Comiskey said factories are very anxious for lambs and farmers should sell hard while moving lambs as they become fit.
Lamb Price Update 13/07/2023
13/07/2023 Spring Lamb €7.20/7.50/kg. Higher deals groups/larger lots. Ewes €3.20/3.60/kg.
Supply Figures as Reported by DAFM – WK 27 (09.07.2023)
| Animal | Figure | Change | YTD | YTD Change |
| Lambs/Hoggets | 3458 | ▼-1,898 | 973949 | ▲81,950 |
| Spring Lambs | 43500 | ▼-7,649 | 338426 | ▼-51,424 |
| Ewes and Rams | 6320 | ▲704 | 144932 | ▼-6,282 |
| Light Lambs | 0 | ▼-2 | 122 | ▲30 |
| TOTAL | 53278 | ▼-8,845 | 1457429 | ▲24,274 |
Official Irish Prices as Reported by DAFM – WK 27 (09.07.2023)
| c/kg (Incl. VAT) | WK 27 | Change prev wk | 2022 | Change prev yr |
| National Avg Price | 704.87 | ▼-44 | 736.9 | ▼-32 |
| YTD Avg | 681.98 | ▲1 | 720.51 | ▼-39 |
Official GB Prices as Reported by AHDB
| R3L | Overall SQQ* | Type of lamb | |
| 01/07/2023 | 644.6 | 646.2 | New season lamb |
| 08/07/2023 | 616.7 | 617.1 | New season lamb |
| Change | ▼-28 | ▼-29 | |
| Price in c/kg (Incl VAT) | 757.3 | 757.7 |
