Beef Update
IFA Livestock Chairman Declan Hanrahan said beef prices have moved on 5c/kg this week on the back of tight supplies and strong market demand. He said factories are having to pay up to 10c/kg above quotes this week to secure cattle as farmers dig in and demand stronger returns from the marketplace. Despite the rising movement in beef prices, the prime Irish composite price continues to lag 47/kg behind the prime export benchmark price and this is unacceptable. He said factories must move to close this gap with our key markets immediately and return prices that reflect the markets we are selling into. This week steers are making from €5.20kg to €5.35kg and heifers €5.25kg to €5.40kg. Young bulls R and U grades are ranging from €5.30kg to €5.50kg. Cow prices remain firm and are ranging from €4.50kg to €5.20kg depending on the grade.
Beef Price Update 15/11/2024
Base Quotes Steer €5.20/5.35kg. Heifers €5.25/5.40kg. Higher deals and flat prices for larger and specialist lots. Y Bulls R/U €5.30/5.50Kg. Cows €4.50/5.20kg.
Supply Figures as Reported by DAFM – WK 45 (10.11.2024)
| Animal | Number | Change prev wk | % of total | YTD | YTD Change |
| Y Bulls | 1,576 | ▲386 | 4% | 91,483 | ▼-8,761 |
| Bull | 479 | ▲59 | 1% | 25,448 | ▲648 |
| Steer | 14,636 | ▲1,468 | 38% | 598,474 | ▼-11,901 |
| Cow | 10,056 | ▲1,061 | 26% | 378,495 | ▲343,889 |
| Heifer | 11,957 | ▲1,947 | 31% | 443,433 | ▲20,266 |
| Veal-V | 50 | ▲24 | 0% | 20,412 | ▼-10,284 |
| Veal-Z | 37 | ▲2 | 0% | 1,608 | ▲182 |
| Total | 38,791 | ▲4,947 | 100% | 1,559,353 | ▲3,665 |
Official Irish Prices as Reported by DAFM – WK 45 (10.11.2024)
| c/kg (Incl. VAT) | U3 | Change prev wk | R3 | Change prev wk | O3 | Change prev wk | P+3 | Change prev wk |
| Steers | 566 | ▲15 | 546 | ▲7 | 533 | ▲6 | 506 | ▲6 |
| Heifers | 562 | ▲5 | 552 | ▲5 | 545 | ▲5 | 498 | ▲2 |
| Y Bulls | 550 | ▲6 | 541 | ▲2 | 525 | ▲3 | 512 | ▲4 |
| Cows | 0 | ▲0 | 506 | ▲2 | 476 | ▲3 | 455 | ▲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 |
| 02/11/2024 | 522.7 | 526.6 | 519.9 | 525.2 | 505.2 | 511.3 | 373.2 |
| 09/11/2024 | 527.8 | 526.6 | 525.8 | 52.1 | 516.1 | 516.4 | 375.3 |
| Change | ▲5 | ▲0 | ▲512 | ▼-473 | ▲11 | ▲5 | ▲2 |
| Price in c/kg (Incl VAT) | 663.5 | 662.0 | 661.0 | 65.5 | 648.8 | 649.2 | 471.8 |
Euro Price for the Most Recent Week (€/KG Deadweight excl. VAT)
| Country & Type | 05.11.2022 | 04.11.2023 | 09.11.2024 |
| EU + Y Bulls | not available | € 4.87 | € 5.44 |
| IE + Steers | € 4.51 | € 4.59 | € 5.21 |
| UK + Steers | € 5.51 | € 5.52 | € 6.22 |
Live Cattle Exports 28th October
Sheep Update
IFA Sheep Chairman Adrian Gallagher said lamb prices continue upwards increasing a further 10c/kg this week. He said lambs are making from €7.70kg to €8.00kg with some factories offering deals up to €8.25kg on weights to 24kg to secure supplies. Demand is also reflected in our key markets with UK sheep meat prices also increasing a further 10p/kg this week. He said factories are struggling to match supplies with market demand in the run up to the Christmas period and its vital they continue this upward trajectory aligning our prices with the markets we are exporting into. Strong factory demand is feeding through to mart sales where prices are comparable to and above what factories are offering in cases making it a viable alternative for sellers unable to achieve the higher prices. He said farmers should sell hard given the very strong rising markets.
Lamb Price Update 15/11/2024
Spring Lamb €7.70kg/8.00kg. Up to €8.25 paid. Weights to 24kg. Higher deals groups/larger lots. Ewes €3.80/4.20/kg.
Supply Figures as Reported by DAFM – WK 45 (10.11.2024)
| Animal | Figure | Change | YTD | YTD Change |
| Lambs/Hoggets | 64 | ▼-82 | 897,861 | ▼-84,463 |
| Spring Lambs | 36,534 | ▼-739 | 1,079,708 | ▼-119,403 |
| Ewes and Rams | 4,441 | ▼-255 | 246,091 | ▼-47,102 |
| Light Lambs | 2 | ▲2 | 114 | ▼-35 |
| TOTAL | 41,041 | ▼-1,074 | 2,223,774 | ▼-251,003 |
Official Irish Prices as Reported by DAFM – WK 45 (10.11.2024)
| c/kg (Incl. VAT) | This week | Change prev. wk | 2023 | Change prev. yr |
| National Avg Price | 755.07 | ▲13 | 630.58 | ▲123 |
| YTD Avg | 774.29 | ▼-1 | 662.54 | ▲112 |
Official GB Prices as Reported by AHDB
| R3L | Overall SQQ* | Type of lamb | |
| 02/11/2024 | 616.9 | 614.0 | New season Lamb |
| 09/11/2024 | 626.7 | 625.2 | New season Lamb |
| Change | ▲10 | ▲11 | |
| Price in c/kg (Incl VAT) | 769.5 | 767.7 | 1 |
Live Sheep Exports 15th October
