Beef Update
IFA Livestock Committee chairman Brendan Golden said demand for beef in our key export markets continues to drive the trade. He said supplies are failing to meet demand and factories are ringing around trying to get cattle for immediate slaughter.
Brendan Golden said UK prices rose again this week and combined with the EU price are resting 16c/kg above our price in the Prime Export Benchmark measure highlighting the opportunity for further and stronger beef price increases.
Supplies of cattle in the UK are continuing at 6% below last year’s levels providing real opportunity for Irish beef to fill this deficit in a high-priced market. Brendan Golden said market conditions and availability of beef justify strong beef price growth and farmers should sell hard in a rising market.
Beef Price Update 12/05/2022
Steer Base €4.95/5.05kg. Heifers €5.00/5.10kg. Higher deals and flat prices for larger and specialist lots. Y Bulls R/U €5.00/5.20Kg. Cows €4.30/5.00kg.
Supply Figures as Reported by DAFM – Week 18 (08.05.2022)
| Animal | Number | Change prev wk | % of total | YTD | YTD Change |
| Y Bulls | 2,539 | ▼-83 | 8% | 52,823 | ▲1,662 |
| Bull | 641 | ▼-177 | 2% | 9,221 | ▲755 |
| Steer | 12,186 | ▼-1,643 | 39% | 225,568 | ▲22,858 |
| Cow | 7,490 | ▼-1,068 | 24% | 137,929 | ▲25,104 |
| Heifer | 8,743 | ▼-1,925 | 28% | 184,652 | ▲14,901 |
| Veal-V | 3 | ▼-888 | 0% | 27,821 | ▲7,372 |
| Veal-Z | 38 | ▼-1 | 0% | 757 | ▲12 |
| Total | 31,640 | ▼-5,785 | 100% | 638,771 | ▲72,664 |
Official Irish Prices as Reported by DAFM – Week 18 (08.05.2022)
| c/kg(Incl. VAT) | U3 | Changeprev wk | R3 | Changeprev wk | O3 | Changeprev wk | P+3 | Changeprev wk |
| Steers | 533 | ▲8 | 524 | ▲7 | 512 | ▲7 | 485 | ▲8 |
| Heifers | 537 | ▲5 | 524 | ▲4 | 519 | ▲8 | 474 | ▲7 |
| Y Bulls | 515 | ▲4 | 507 | ▲8 | 488 | ▲6 | 475 | ▲2 |
| Cows | 0 | ▲0 | 480 | ▲8 | 451 | ▲8 | 438 | ▲9 |
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 |
| 30.04.2022 | 444.1 | 447.9 | 445.6 | 448.2 | 439.2 | 437.3 | 378.1 |
| 07.05.2022 | 444.9 | 447.2 | 439.8 | 445.8 | 448.7 | 439.3 | 438.8 |
| Change | ▲1 | ▼-1 | ▲0 | ▲1 | ▼-0 | ▲3 | ▼-0 |
| Price in c/kg (Incl VAT) | 552.7 | 555.6 | 553.8 | 557.4 | 545.1 | 546.6 | 469.4 |
Euro Price for the Most Recent Week (€/KG Deadweight excl. VAT)
| Country & Type | 02.05.2020 | 01.05.2021 | 30.04.2022 |
| EU + Y Bulls | € 3.42 | € 3.82 | € 5.14 |
| IE + Steers | € 3.43 | € 4.09 | € 4.90 |
| UK + Steers | € 3.76 | € 4.68 | € 5.21 |
Live Exports W/C 18.04.2021
Sheep Update
IFA Sheep Committee chairman Kevin Comiskey said reducing supplies of hoggets has underpinned the spring lamb trade as factories actively seek out supplies. He said good quality hoggets are making €7.50/kg and as numbers tighten demand for spring lambs is increasing in all factories. The IFA Sheep chairman said numbers of spring lamb available are extremely tight, running almost 10,000 behind last years levels to-date which is pushing factories into offering deals on weights to 20.5kg with prices of €8.40/kg common place. He said spring lamb prices must push on to reflect the input cost exposure on sheep farms and factories must be more flexible on weights. Kevin Comiskey said demand for cull ewes is very strong with prices of €4.00/kg and above paid by factories. He said farmers should sell hard while moving hoggets and lambs as they become fit.
Lamb Price Update 12/05/2022
Hogget €7.20/7.50/kg. Spring lamb €8.10/8.40/kg. Higher deals groups/larger lots. Ewes €3.80/4.00/kg.
Supply Figures as Reported by DAFM – Week 18 (08.05.2022)
| Animal | Figure | Change | YTD | |
| Lambs/Hoggets | 26742 | ▼-17,162 | 812205 | ▲151,028 |
| Spring Lambs | 15230 | ▲4,371 | 42103 | ▼-10,937 |
| Ewes and Rams | 5449 | ▼-939 | 91988 | ▼-5,166 |
| Light Lambs | 2 | ▲1 | 44 | ▼-52 |
| TOTAL | 47423 | ▼-13,729 | 946340 | ▲134,873 |
Official Irish Prices as Reported by DAFM – Week 18 (08.05.2022)
| c/kg (Incl. VAT) | WK 18 | Changeprev wk | 2021 | Changeprev yr |
| National Avg Price | 739.33 | ▲3 | 745.75 | ▼-6 |
| YTD Avg | 698.36 | ▲2 | 676.02 | ▲22 |
Official GB Prices as Reported by AHDB
| R3L | Overall SQQ* | Type of lamb | |
| 30/04/2022 | 612.1 | 605.9 | Old season |
| 07/05/2022 | 609.6 | 603.3 | Old season |
| Change | ▼-3 | ▼-3 | |
| Price in c/kg (Incl VAT) | 757.3 | 749.5 |
