IFA Livestock chair Declan Hanrahan said the gamesmanship by factories on beef price is unacceptable and must stop. He said market conditions are favourable, with no justification for the negative propaganda coming from factories and their agents. “Farmers should reject the unfounded negativity on beef price. Demand is strong and will only increase as supplies tighten here and in our key markets. Despite attempting to offer lower quotes, when pushed factories are freely paying an extra 10 to 15c/kg to secure cattle to fill lucrative contracts,” he said. Supplies of beef in the UK and EU are tight, contributing to beef prices in these destinations remaining steady and strong. This provides real opportunity for factories to maximise returns to farmers. The Prime EU Benchmark Price compiled by Bord Bia has increased by 10c/kg over the past two weeks, clearly highlighting the demand for beef in this key destination. The IFA Livestock chair said the UK market continues to perform strongly with prices over 50c/kg above ours.
Beef Price Update 10/05/2024
Base Quotes Steer €5.15/5.30kg. Heifers €5.20/5.35kg. Higher deals and flat prices for larger and specialist lots. Y Bulls R/U €5.25/5.50Kg. Cows €4.30/5.00kg.
Supply Figures as Reported by DAFM – WK 18 (05.05.2024)
| Animal | Number | Change prev wk | % of total | YTD | YTD Change |
| Y Bulls | 1,822 | ▲119 | 6% | 43,315 | ▼-1,894 |
| Bull | 624 | ▼-48 | 2% | 8,644 | ▼-204 |
| Steer | 13,074 | ▲471 | 40% | 220,678 | ▲5,741 |
| Cow | 7,543 | ▼-476 | 23% | 153,750 | ▲19,047 |
| Heifer | 9,429 | ▼-478 | 29% | 184,540 | ▲9,695 |
| Veal-V | 460 | ▼-420 | 1% | 17,578 | ▼-12,797 |
| Veal-Z | 23 | ▼-9 | 0% | 901 | ▲82 |
| Total | 32,975 | ▼-841 | 100% | 629,406 | ▲3,665 |
Official Irish Prices as Reported by DAFM – WK 18 (05.05.2024)
| c/kg (Incl. VAT) | U3 | Change prev wk | R3 | Change prev wk | O3 | Change prev wk | P+3 | Change prev wk |
| Steers | 556 | ▲1 | 547 | ▲1 | 536 | ▲1 | 503 | ▲0 |
| Heifers | 565 | ▲1 | 551 | ▲0 | 541 | ▼-1 | 493 | ▲1 |
| Y Bulls | 547 | ▲2 | 533 | ▲1 | 514 | ▼-3 | 500 | ▼-5 |
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 |
| 27/04/2024 | 493.7 | 495.2 | 492.2 | 495.1 | 483.8 | 484 | 380.2 |
| 04/05/2024 | 492.8 | 495.9 | 492.1 | 494.9 | 479.7 | 481.6 | 382.8 |
| Change | ▼-1 | ▲1 | ▼-0 | ▼-0 | ▼-4 | ▼-2 | ▲1 |
| Price in c/kg (Incl VAT) | 605.1 | 608.9 | 604.3 | 607.7 | 589.0 | 591.4 | 470.0 |
Euro Price for the Most Recent Week (€/KG Deadweight excl. VAT)
| Country & Type | 23.04.2022 | 22.04.2023 | 27.04.2024 |
| EU + Y Bulls | € 5.13 | € 5.04 | € 5.02 |
| IE + Steers | € 4.85 | € 5.27 | € 5.21 |
| UK + Steers | € 5.26 | € 5.64 | € 5.70 |
Live Cattle Exports W/C 22.04.2024
Sheep Update
IFA Sheep Chairman Adrian Gallagher said hogget prices remain steady and as numbers continue to tighten demand from factories for spring lamb will increase further. He said hogget’s are trading between €9.20kg and 9.50kg with factories offering deals on weights to 24kg. Spring lamb prices are ranging from €9.50kg to €9.80kg on weights to 21.5kg. Sheep throughput is extremely tight and is running almost 98,000 head behind the same period in 2023 highlighting the tightening on lambs on the market. Cull ewes are making from €4.10kg to €4.50kg in general. The IFA Sheep Chairman said farmers should shop around and sell hard as supplies of suitable lambs are tight.
Lamb Price Update 10/05/2024
Hogget’s €9.20/9.50/kg. Weights to 24kg. Spring Lamb €9.50/9.80kg. Weights to 21.5kg. Higher deals groups/larger lots. Ewes €4.10/4.50/kg.
Supply Figures as Reported by DAFM – WK 18 (05.05.2024)
| Animal | Figure | Change | YTD | YTD Change |
| Lambs/Hoggets | 27,770 | ▼-137 | 769,861 | ▼-81,558 |
| Spring Lambs | 7,106 | ▲3,949 | 24,082 | ▼-6,050 |
| Ewes and Rams | 3,687 | ▲41 | 84,713 | ▼-10,335 |
| Light Lambs | 2 | ▲0 | 59 | ▼-37 |
| TOTAL | 38,565 | ▲3,853 | 878,715 | ▼-97,980 |
Official Irish Prices as Reported by DAFM – WK 18 (05.05.2024)
| c/kg (Incl. VAT) | This week | Change prev. wk | 2023 | Change prev. yr |
| National Avg Price | 861.14 | ▼-25 | 675.73 | ▲182 |
| YTD Avg | 733.19 | ▲8 | 624.81 | ▲130 |
Official GB Prices as Reported by AHDB
| R3L | Overall SQQ* | Type of lamb | |
| 27/04/2024 | 856.7 | 849.6 | Old season lamb |
| 04/05/2024 | 836.6 | 824.9 | Old season lamb |
| Change | ▼-20 | ▼-25 | |
| Price in c/kg (Incl VAT) | 1027.3 | 1012.9 |
Live Sheep Exports March 31st 2024
