Beef Update
Livestock Chairman Declan Hanrahan said farmers should resist attempts by factories to reduce beef price. He said demand for beef is strong in our key export markets, with UK R3 steer prices now the equivalent of €6.17/kg. Live export demand is also positive with demand for finished cattle very strong particularly to Northern Ireland creating further competition for beef cattle. He said there is no justification for factories to reduce beef prices. Farmers have made serious investments in finishing cattle over the winter period and these attempts by factories to weaken price is unacceptable and must stop.
Beef Price Update 22/02/2024
Base Quotes Steer €5.10/5.20kg. Heifers €5.15/5.20kg. Higher deals and flat prices for larger and specialist lots. Y Bulls R/U €5.20/5.50Kg. Cows €4.20/5.00kg.
Supply Figures as Reported by DAFM – WK 07 18.02.2024)
| Animal | Number | Change prev wk | % of total | YTD | YTD Change |
| Y Bulls | 2,966 | ▲456 | 8% | 21,358 | ▼-2,163 |
| Bull | 435 | ▲91 | 1% | 2,390 | ▼-254 |
| Steer | 13,274 | ▲1,885 | 35% | 83,153 | ▲2,460 |
| Cow | 9,518 | ▲283 | 25% | 63,341 | ▲7,616 |
| Heifer | 11,392 | ▲1,389 | 30% | 74,456 | ▲1,862 |
| Veal-V | 767 | ▲529 | 2% | 1,053 | ▼-4,027 |
| Veal-Z | 103 | ▲48 | 0% | 320 | ▼-47 |
| Total | 38,455 | ▲4,681 | 100% | 246,071 | ▲3,665 |
Official Irish Prices as Reported by DAFM – WK 07 (18.02.2024)
| c/kg (Incl. VAT) | U3 | Change prev wk | R3 | Change prev wk | O3 | Change prev wk | P+3 | Change prev wk |
| Steers | 549 | ▼-2 | 541 | ▼-2 | 530 | ▼-3 | 499 | ▼-2 |
| Heifers | 560 | ▲0 | 547 | ▲0 | 539 | ▲1 | 487 | ▼-4 |
| Y Bulls | 538 | ▲0 | 527 | ▲1 | 511 | ▼-2 | 505 | ▲2 |
| Cows | 0 | ▲0 | 479 | ▲0 | 432 | ▼-4 | 412 | ▼-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 |
| 10/02/2024 | 502.8 | 505.5 | 501.3 | 504.2 | 489.1 | 484.7 | 341.9 |
| 17/02/2024 | 503.1 | 506.1 | 502.7 | 505.0 | 502.7 | 505.0 | 361.7 |
| Change | ▲0 | ▲1 | ▲1 | ▲1 | ▲14 | ▲20 | ▼-1 |
| Price in c/kg (Incl VAT) | 617.8 | 621.4 | 617.3 | 620.1 | 617.3 | 620.1 | 444.1 |
Euro Price for the Most Recent Week (€/KG Deadweight excl. VAT)
| Country & Type | 29.01.2022 | 28.01.2023 | 03.02.2024 |
| EU + Y Bulls | € 4.57 | € 5.14 | € 5.02 |
| IE + Steers | € 4.33 | € 5.21 | € 5.19 |
| UK + Steers | € 4.91 | € 5.27 | € 5.78 |
Live Exports W/C 05.02.2024
Sheep Update
IFA Sheep Chairman Adrian Gallagher said lamb prices continue to move upwards as factories struggle to match supply with market demand. He said the Ramadan festival commences on March 11th followed by the Easter festival in April which is going to create very strong demand for lamb he said. Factories are paying up €7.80kg for lambs today with prices 10c/kg to 20c/kg above this achievable for larger and specialised lots. Total throughput to date is back 19,392 with over 18,500 or these lambs. Adrian Gallagher said farmers should sell hard be mindful of the mart outlet where prices are on par or above what factories are offering.
Lamb Price Update 22/02/2024
Lamb €7.60/7.80/kg. Weights to 23kg. Higher deals groups/larger lots. Ewes €3.30/3.60/kg.
Supply Figures as Reported by DAFM – WK 07 (18.02.2024)
| Animal | Figure | Change | YTD | YTD Change |
| Lambs/Hoggets | 41,628 | ▲811 | 304,543 | ▼-18,629 |
| Spring Lambs | 0 | ▲0 | 8,571 | ▲8,571 |
| Ewes and Rams | 4,793 | ▲92 | 35,154 | ▼-9,330 |
| Light Lambs | 5 | ▲0 | 18 | ▼-4 |
| TOTAL | 46,421 | ▲898 | 348,286 | ▼-19,392 |
Official Irish Prices as Reported by DAFM – WK 07 (18.02.2024)
| c/kg (Incl. VAT) | This week | Change prev. wk | 2023 | Change prev. yr |
| National Avg Price | 700.58 | ▲20 | 605.15 | ▲95 |
| YTD Avg | 675.94 | ▲7 | 616.27 | ▲60 |
Official GB Prices as Reported by AHDB
| R3L | Overall SQQ* | Type of lamb | |
| 10/02/2024 | 666.1 | 662.2 | Old season lamb |
| 17/02/2024 | 695.0 | 689.9 | Old season lamb |
| Change | ▲29 | ▲28 | |
| Price in c/kg (Incl VAT) | 853.4 | 847.1 |
Live Sheep Exports 2023
