Beef Update
IFA Livestock Chairman Declan Hanrahan said beef prices are not keeping pace with our key exports. He said supplies of beef cattle are not meeting factory demand and are predicted to tighten further in the coming weeks and months. It is a similar supply situation in most beef producing countries, creating huge opportunity and potential for meaningful and sustained beef price increases. Farmers with cattle to sell should not be misled by factories or their agents. He said prices are surging in our key export markets supplies are tight and demand is strong. The IFA Livestock Chairman said there is capacity in the marketplace for significant beef price increases and factories must close the unacceptable gap of almost 50c/kg with the Bord Bia prime export benchmark price by returning higher prices to beef farmers.
Beef Price Update 10/10/2024
Base Quotes Steer €5.05/5.20kg. Heifers €5.10/5.25kg. Higher deals and flat prices for larger and specialist lots. Y Bulls R/U €5.20/5.40Kg. Cows €4.40/5.00kg.
Supply Figures as Reported by DAFM – WK 40 (06.10.2024)
| Animal | Number | Change prev wk | % of total | YTD | YTD Change |
| Y Bulls | 1,085 | ▼-17 | 3% | 84,589 | ▼-7,224 |
| Bull | 491 | ▲41 | 1% | 23,082 | ▲789 |
| Steer | 19,172 | ▲1,455 | 47% | 519,230 | ▼-7,527 |
| Cow | 8,795 | ▲1,160 | 21% | 330,150 | ▲31,977 |
| Heifer | 11,354 | ▲1,561 | 28% | 386,033 | ▲14,424 |
| Veal-V | 38 | ▲30 | 0% | 20,248 | ▼-10,324 |
| Veal-Z | 21 | ▲7 | 0% | 1,443 | ▲162 |
| Total | 40,956 | ▲4,237 | 100% | 1,364,775 | ▲3,665 |
Official Irish Prices as Reported by DAFM – WK 40 (06.10.2024)
| c/kg (Incl. VAT) | U3 | Change prev wk | R3 | Change prev wk | O3 | Change prev wk | P+3 | Change prev wk |
| Steers | 539 | ▲0 | 528 | ▲0 | 512 | ▼-1 | 485 | ▼-1 |
| Heifers | 545 | ▲0 | 533 | ▲0 | 523 | ▼-1 | 479 | ▼-3 |
| Y Bulls | 533 | ▲2 | 521 | ▼-1 | 508 | ▲0 | 505 | ▲9 |
| Cows | 0 | ▲0 | 490 | ▼-1 | 460 | ▲1 | 442 | ▲1 |
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 |
| 28/09/2024 | 517 | 518.4 | 514.4 | 514.1 | 500.7 | 489.8 | 386.3 |
| 05/10/2024 | 518.8 | 521.6 | 516.4 | 520.6 | 503.7 | 510.8 | 385.0 |
| Change | ▲2 | ▲3 | ▲512 | ▲2 | ▼-3 | ▲8 | ▼-1 |
| Price in c/kg (Incl VAT) | 637.0 | 640.5 | 634.1 | 639.2 | 618.5 | 627.2 | 472.7 |
Euro Price for the Most Recent Week (€/KG Deadweight excl. VAT)
| Country & Type | 10.01.2022 | 30.09.2023 | 05.10.2024 |
| EU + Y Bulls | € 4.97 | € 4.85 | € 5.28 |
| IE + Steers | € 4.68 | € 4.66 | € 5.04 |
| UK + Steers | € 4.95 | € 5.51 | € 6.08 |
Live Cattle Exports 30th September
Sheep Update
IFA Sheep Chairman Adrian Gallagher said lamb prices have moved on 10c/kg on the back of tight supplies and strong market demand. He said factories are very anxious for lambs and are competing very strongly in marts for suitable lambs where prices paid are on par or above what they are offering to farmers. He said supplies of sheep meat produced across the EU and UK will be down this year and factories must stand firm and maximise returns from the market place for sheep farmers. This week lamb prices are making from €7.30kg to €7.60kg with higher deals for groups and larger lots. Factories have also increased paid weights to 23kg. Cull ewes are making from €3.70kg to €4.20kg in general. The IFA sheep chairman said farmers should shop around and sell hard as supplies of suitable lambs are tight.
Lamb Price Update 10/10/2024
Spring Lamb €7.30kg/7.60kg. Weights to 23kg. Higher deals groups/larger lots. Ewes €3.80/4.20/kg.
Supply Figures as Reported by DAFM – WK 40 (06.10.2024)
| Animal | Figure | Change | YTD | YTD Change |
| Lambs/Hoggets | 84 | ▼-146 | 897,179 | ▼-83,783 |
| Spring Lambs | 49,505 | ▼-309 | 877,404 | ▼-79,187 |
| Ewes and Rams | 8,187 | ▲697 | 216,959 | ▼-31,401 |
| Light Lambs | 0 | ▼-1 | 108 | ▼-29 |
| TOTAL | 57,776 | ▲241 | 1,991,650 | ▼-194,400 |
Official Irish Prices as Reported by DAFM – WK 40 (06.10.2024)
| c/kg (Incl. VAT) | This week | Change prev. wk | 2023 | Change prev. yr |
| National Avg Price | 861.14 | ▲5 | 675.73 | ▲102 |
| YTD Avg | 733.19 | ▼-2 | 624.81 | ▲111 |
Official GB Prices as Reported by AHDB
| R3L | Overall SQQ* | Type of lamb | |
| 28/09/2024 | 640.5 | 640.0 | New season Lamb |
| 28/09/2024 | 626.6 | 624.0 | New season Lamb |
| Change | ▼-14 | ▼-16 | |
| Price in c/kg (Incl VAT) | 769.4 | 766.2 | 1 |
Live Sheep Exports 30th June
