IFA National Livestock Chair Declan Hanrahan said the attempts by factories to take advantage of the weather difficulties farmers are enduring is unacceptable. He said market conditions and the supplies of finished cattle justify stronger beef prices. The IFA National Livestock Chair said the Prime Export Benchmark Price increased a further 4c/kg in the latest Bord Bia report reflecting the demand for beef in our key export markets. He said our prices are currently over 10c/kg behind this time last year while beef prices in our largest market, the UK are running over 12c/kg ahead of last year for the latest reported week. Declan Hanrahan said there is no justification for this and factories must move beef prices on. Demand for beef is extremely strong in the UK, Northern Ireland factories are freely offering 5c/kg more for ROI cattle than some factories here for direct slaughter, agents for these factories are also very active in marts adding to competition for finished and forward store cattle. Declan Hanrahan said market conditions justify further price increases, supplies are expected to be extremely tight over the coming weeks and months, farmers should not buy in to any negative propaganda from factories or their agents, sell hard and demand further beef price increases.
Beef Price Update: 17/05/2024
Base Quotes Steer €5.10/5.25kg. Heifers €5.15/5.30kg. 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 19 (12.05.2024)
| Animal | Number | Change prev wk | % of total | YTD | YTD Change |
| Y Bulls | 1,822 | ▼-78 | 6% | 43,315 | ▼-1,894 |
| Bull | 624 | ▼-20 | 2% | 8,644 | ▼-204 |
| Steer | 13,074 | ▲697 | 40% | 220,678 | ▲5,741 |
| Cow | 7,543 | ▼-111 | 23% | 153,750 | ▲19,047 |
| Heifer | 9,429 | ▼-413 | 29% | 184,540 | ▲9,695 |
| Veal-V | 460 | ▼-268 | 1% | 17,578 | ▼-12,797 |
| Veal-Z | 23 | ▲4 | 0% | 901 | ▲82 |
| Total | 32,975 | ▼-189 | 100% | 629,406 | ▲3,665 |
Official Irish Prices as Reported by DAFM – WK 19 (12.05.2024)
| c/kg (Incl. VAT) | U3 | Change prev wk | R3 | Change prev wk | O3 | Change prev wk | P+3 | Change prev wk |
| Steers | 555 | ▼-1 | 547 | ▲0 | 536 | ▲0 | 502 | ▼-1 |
| Heifers | 563 | ▼-2 | 551 | ▲0 | 540 | ▼-1 | 489 | ▼-4 |
| Y Bulls | 549 | ▲2 | 532 | ▼-1 | 513 | ▼-1 | 496 | ▼-4 |
| Cows | 0 | ▲0 | 487 | ▼-3 | 445 | ▼-2 | 427 | ▼-2 |
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 |
| 04/05/2024 | 492.8 | 495.9 | 492.1 | 494.9 | 481.6 | 481.6 | 382.8 |
| 11/05/2024 | 492.2 | 495.9 | 491.6 | 495.8 | 481.9 | 484.6 | 386.5 |
| Change | ▼-1 | ▲0 | ▼-1 | ▲1 | ▲2 | ▲3 | ▲4 |
| Price in c/kg (Incl VAT) | 604.4 | 608.9 | 603.6 | 608.8 | 591.7 | 595.0 | 474.6 |
Euro Price for the Most Recent Week (€/KG Deadweight excl. VAT)
| Country & Type | 30.04.2022 | 29.04.2023 | 04.05.2024 |
| EU + Y Bulls | € 5.14 | € 5.05 | € 5.01 |
| IE + Steers | € 4.90 | € 5.28 | € 5.22 |
| UK + Steers | € 5.21 | € 5.59 | € 5.68 |
Live Cattle Exports W/C 06.05.2024
Sheep Update
IFA National Sheep Chair Adrian Gallagher is reminding farmers that the deadline date to apply for the National Sheep Welfare Scheme is next Tuesday, May 21st 2024. Applications can be made on line at Agfood.ie or through an advisor. More information on the National Sheep Welfare Scheme can be found here. He said the scheme is practical in design and compatible with good farm practice paying farmers €8/ewe for carrying out the two measures. Farmers choose one option from each of the two categories provided, the measures supported are shearing or body condition scoring in category 1 and plunge dipping or clostridial vaccination in category 2. He said the scheme was established following intense lobbying by IFA throughout 2023 and is a positive step building towards a €30/ewe payment. The IFA National Sheep Chair said the welfare scheme offers practical and valuable support to farmers, enhancing flock management and welfare practises and it is important that all sheep farmers participate in the scheme. Adrian Gallagher has urged all sheep farmers to apply for this very important support for the sector.
Lamb Price Update 17/05/2024
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 19 (12.05.2024)
| Animal | Figure | Change | YTD | YTD Change |
| Lambs/Hoggets | 25,426 | ▼-2,344 | 795,287 | ▼-82,068 |
| Spring Lambs | 11,667 | ▲4,561 | 35,749 | ▼-9,948 |
| Ewes and Rams | 4,159 | ▲472 | 88,932 | ▼-11,660 |
| Light Lambs | 6 | ▲4 | 65 | ▼-34 |
| TOTAL | 41,258 | ▲2,693 | 920,033 | ▼-103,710 |
Official Irish Prices as Reported by DAFM – WK 19 (12.05.2024)
| c/kg (Incl. VAT) | This week | Change prev. wk | 2023 | Change prev. yr |
| National Avg Price | 861.14 | ▼-13 | 675.73 | ▲154 |
| YTD Avg | 733.19 | ▲7 | 624.81 | ▲132 |
Official GB Prices as Reported by AHDB
| R3L | Overall SQQ* | Type of lamb | |
| 04/05/2024 | 836.6 | 824.9 | Old season lamb |
| 11/05/2024 | 834.1 | 822.9 | Old season lamb |
| Change | ▼-3 | ▼-2 | |
| Price in c/kg (Incl VAT) | 1024.2 | 1010.4 |
Live Sheep Exports March 31st 2024
