Beef Update
IFA livestock chairman Declan Hanrahan said supplies of beef is failing to meet demand in the UK and across the EU, driving beef prices in these key outlets for Irish beef. He said prices in these markets continue to strengthen week on week keeping the Prime Export Benchmark price above our prices and providing the capacity for on-going strengthening of beef prices here. Declan Hanrahan said the main driver of the trade is the UK, where beef prices rose by over 60c/kg since the beginning of the year and by almost 18c/kg in the past week pushing UK beef prices to over €1/kg above our price. The IFA livestock chairman said the strength of the UK market in particular shows the capacity that exists for further significant beef price rises here and the opportunity that exists for factories to return higher prices to farmers. He said factories simply can’t get enough cattle to fill the demand and are freely doing deals 20c/kg and more above initial quotes to close out deals. He said it is important farmers are fully aware of the strength of the market place and shop around to get the best price as prices are rising almost daily. The IFA chairman said €7/kg base is now the target for beef farmers with some larger suppliers already closing out deals at this price and with UK prices the equivalent of €7.63/kg there is plenty of capacity in the market place.
Beef Price Update 06/02/2025
Base Steer €6.10/6.20kg. Heifers €6.20/6.30kg. Higher deals and flat prices for larger and specialist lots. Flat prices €6.60/6.80kg. Y Bulls R/U €6.30/6.50Kg. Cows €5.30/6.00kg
Supply Figures as Reported by DAFM – WK 05 (02.02.2025)
| Animal | Number | Change prev wk | % of total | YTD | YTD Change |
| Y Bulls | 3,612 | ▲472 | 9% | 16,231 | ▲349 |
| Bull | 432 | ▲163 | 1% | 1,434 | ▼-177 |
| Steer | 12,970 | ▲1,539 | 33% | 58,539 | ▲49 |
| Cow | 9,721 | ▲1,803 | 25% | 38,508 | ▼-6,080 |
| Heifer | 12174 | ▲696 | 31% | 56,782 | ▲3,721 |
| Veal-V | 28 | ▼-6 | 0% | 149 | ▲100 |
| Veal-Z | 176 | ▲49 | 0% | 552 | ▲391 |
| Total | 39,113 | ▲4,716 | 100% | 172,195 | ▲3,665 |
Official Irish Prices as Reported by DAFM – WK 05 (02.02.2025)
| c/kg (Incl. VAT) | U3 | Change prev wk | R3 | Change prev wk | O3 | Change prev wk | P+3 | Change prev wk |
| Steers | 633 | ▲0 | 622 | ▲0 | 614 | ▲0 | 585 | ▲0 |
| Heifers | 636 | ▲0 | 626 | ▲0 | 621 | ▲0 | 578 | ▲0 |
| Y Bulls | 632 | ▲0 | 618 | ▲0 | 602 | ▲0 | 603 | ▲0 |
| Cows | 0 | ▲0 | 577 | ▲0 | 539 | ▲0 | 521 | ▲0 |
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 |
| 04/01/2025 | 597.2 | 601.6 | 595 | 598.3 | 580.9 | 577.2 | 445.7 |
| 01/02/2025 | 612.9 | 617.2 | 611.2 | 615.6 | 593.0 | 588.9 | 458.4 |
| Change | ▲16 | ▲16 | ▲4 | ▲17 | ▲12 | ▲12 | ▲13 |
| Price in c/kg (Incl VAT) | 770.5 | 775.9 | 768.4 | 773.9 | 745.5 | 740.3 | 576.3 |
Euro Price for the Most Recent Week (€/KG Deadweight excl. VAT)
| Country & Type | 31.12.2022 | 30.12.2023 | 04.01.2025 |
| EU + Y Bulls | € 5.21 | € 4.97 | € 5.61 |
| IE + Steers | € 5.00 | € 5.03 | € 5.64 |
| UK + Steers | € 5.12 | € 5.64 | € 6.65 |
Live Cattle Exports 20th February
Sheep Update
IFA Sheep Chairman Adrian Gallagher said hogget prices have steadied this week but more is needed from the market. He said supplies of suitably fleshed lambs are tight on the ground and factories are very anxious for lambs offering deals above quotes to secure supplies. He said prices of €8.80kg to €9.10kg are available to sellers this week with higher deals for groups and larger lots. Cull ewes are making from €4.80kg to €5.10kg. To date total throughput is back over 73,000 head and with no surge of lambs expected in the coming week in the lead up to the two major religious festivals Easter and Ramadan prices are expected to stay strong. He said farmers should be mindful of the mart trade where prices for heavy fleshed lambs are exceeding factory prices in cases. Adrian Gallagher said factories are anxious for lambs and farmers should sell hard while moving lambs as they become fit.
Lamb Price Update 06/02/2025
Lambs €8.80kg/9.10kg. Weights to 24kg. Higher deals groups/larger lots. Ewes €4.80/5.10/kg.
Supply Figures as Reported by DAFM – WK 05 (02.02.2025)
| Animal | Figure | Change | YTD | YTD Change |
| Lambs/Hoggets | 31470 | ▼-2,420 | 150343 | ▼-71,755 |
| Spring Lambs | 0 | ▲0 | 17278 | ▲8,707 |
| Ewes and Rams | 3766 | ▲726 | 15220 | ▼-10,440 |
| Light Lambs | 2 | ▼-2 | 9 | ▼-4 |
| TOTAL | 35238 | ▼-1,696 | 182850 | ▼-73,492 |
Official Irish Prices as Reported by DAFM – WK 05 (02.02.2025)
| c/kg (Incl. VAT) | This week | Change prev. wk | 2024 | Change prev. yr |
| National Avg Price | 755.07 | ▼-28 | 630.58 | ▲183 |
| YTD Avg | 774.29 | ▼-4 | 662.54 | ▲211 |
Official GB Prices as Reported by AHDB
| R3L | Overall SQQ* | Type of lamb | |
| 25/01/2025 | 738.4 | 731.2 | New season Lamb |
| 01/02/2025 | 716.6 | 710.0 | New season Lamb |
| Change | ▼-22 | ▼-21 | |
| Price in c/kg (Incl VAT) | 879.9 | 871.8 | 1 |
Live Sheep Exports 2024
