Beef Update
IFA Livestock chairman Declan Hanrahan said factory prices are edging upwards but more is needed from the market. He said prices are not keeping pace with our key markets the UK and EU and its unacceptable that factories are holding back prices from beef farmers when its clearly available in the market. UK R3 steer prices are now over €1/kg ahead of ours and prices and based on the latest bord bia tracker the prime export benchmark prices is now 47c/kg ahead of the prime Irish composite price. The IFA Livestock Chairman said it is clear factories are not paying what the market justifies further eroding beef farmers’ incomes. He said factories must immediately move prices on to reflect the realities of the markets we are selling into.Â
Beef Price Update 18/10/2024
Base Quotes Steer €5.05/5.20kg. Heifers €5.10/5.25kg. Higher deals and flat prices for larger and specialist lots. Y Bulls R/U €5.20/5.40Kg. Cows €4.40/5.00kg.
Supply Figures as Reported by DAFM – WK 41 (13.10.2024)
| Animal | Number | Change prev wk | % of total | YTD | YTD Change |
| Y Bulls | 1,242 | â–˛157 | 3% | 85,831 | â–Ľ-7,494 |
| Bull | 476 | â–Ľ-15 | 1% | 23,558 | â–˛803 |
| Steer | 18,319 | â–Ľ-853 | 44% | 537,549 | â–Ľ-7,303 |
| Cow | 9,205 | â–˛410 | 22% | 339,355 | â–˛32,280 |
| Heifer | 11,899 | â–˛545 | 29% | 397,932 | â–˛15,999 |
| Veal-V | 32 | â–Ľ-6 | 0% | 20,280 | â–Ľ-10,325 |
| Veal-Z | 24 | â–˛3 | 0% | 1,476 | â–˛169 |
| Total | 41,197 | â–˛241 | 100% | 1,405,972 | â–˛3,665 |
Official Irish Prices as Reported by DAFM – WK 41 (13.10.2024)
| c/kg (Incl. VAT) | U3 | Change prev wk | R3 | Change prev wk | O3 | Change prev wk | P+3 | Change prev wk |
| Steers | 539 | â–˛0 | 530 | â–˛2 | 515 | â–˛3 | 488 | â–˛3 |
| Heifers | 546 | â–˛1 | 535 | â–˛2 | 526 | â–˛3 | 483 | â–˛4 |
| Y Bulls | 534 | â–˛1 | 527 | â–˛6 | 509 | â–˛1 | 495 | â–Ľ-10 |
| Cows | 0 | â–˛0 | 491 | â–˛1 | 461 | â–˛1 | 442 | â–˛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 |
| 05/10/2024 | 518.8 | 521.6 | 516.4 | 520.6 | 503.7 | 510.8 | 385 |
| 12/10/2024 | 520.0 | 523.8 | 517.1 | 522.6 | 507.8 | 504.8 | 382.9 |
| Change | â–˛1 | â–˛2 | â–˛512 | â–˛2 | â–˛4 | â–Ľ-6 | â–Ľ-2 |
| Price in c/kg (Incl VAT) | 638.5 | 643.2 | 635.0 | 641.7 | 623.5 | 619.8 | 470.2 |
Euro Price for the Most Recent Week  (€/KG Deadweight excl. VAT)
| Country & Type | 10.01.2022 | 30.09.2023 | 05.10.2024 |
| EU + Y Bulls | € 4.97 | € 4.85 | € 5.28 |
| IE + Steers | € 4.68 | € 4.66 | € 5.04 |
| UK + Steers | € 4.95 | € 5.51 | € 6.08 |
Live Cattle Exports 30th September
Sheep Update
IFA Sheep Chairman Adrian Gallagher said factories are offering deals up to €7.60kg on weights to 23kg. He said supplies of fleshed lambs are tight on the ground and the mart trade where there is good competition between factory agents, exporters and butchers is offering a viable competitive outlet for heavier lambs and should be considered. Spring lamb throughput is back over 80,000 head to date and overall throughput is back 200,000 head from the same period last year. Cull ewe prices are ranging from €3.70kg to €4.20kg in general. Adrian Gallagher said farmers should only sell lambs as they become fit, shop around and sell hard as supplies of suitable lambs are tight.
Lamb Price Update 18/10/2024
Spring Lamb €7.30kg/7.60kg. Weights to 23kg. Higher deals groups/larger lots. Ewes €3.80/4.20/kg.
Supply Figures as Reported by DAFM – WK 41 (13.10.2024)
| Animal | Figure | Change | YTD | YTD Change |
| Lambs/Hoggets | 282 | â–˛198 | 897,461 | â–Ľ-83,766 |
| Spring Lambs | 47,539 | â–Ľ-1,966 | 924,943 | â–Ľ-81,281 |
| Ewes and Rams | 7,153 | â–Ľ-1,034 | 224,112 | â–Ľ-34,928 |
| Light Lambs | 2 | â–˛2 | 110 | â–Ľ-28 |
| TOTAL | 54,976 | â–Ľ-2,800 | 2,046,626 | â–Ľ-200,003 |
Official Irish Prices as Reported by DAFM – WK 41 (13.10.2024)
| c/kg (Incl. VAT) | This week | Change prev. wk | 2023 | Change prev. yr |
| National Avg Price | 861.14 | â–˛5 | 675.73 | â–˛107 |
| YTD Avg | 733.19 | â–Ľ-1 | 624.81 | â–˛111 |
Official GB Prices as Reported by AHDB
| R3L | Overall SQQ* | Type of lamb | |
| 05/10/2024 | 626.6 | 624.0 | New season Lamb |
| 12/10/2024 | 619.5 | 617.5 | New season Lamb |
| Change | â–Ľ-7 | â–Ľ-7 | |
| Price in c/kg (Incl VAT) | 760.7 | 758.2 | 1 |
Live Sheep Exports 30th JuneÂ
