Beef Update
IFA Livestock Chairman Declan Hanrahan said cattle prices move upwards as supplies tighten on the ground. He said factories are struggling to secure numbers of cattle to fill orders and are paying 5c/kg to 10c/kg above quotes to tie down deals this week as demand strengthens. Demand at mart sales has also intensified as factories source cattle for next day processing and increased demand from live exporters for cattle for NI and international markets is adding further competition to the trade. Prices in our key markets are strengthening pointing to strong and favourable conditions which must be returned with higher beef prices. Factories are paying €5.30kg to €5.40kg for steers while heifers are making from €5.35kg to €5.45kg. Young Bulls R and U grades are making from €5.40kg to €5.60kg. Cow prices are ranging €4.50kg for P grades up to €5.20kg for U grades.
Beef Price Update 22/11/2024
Base Quotes Steer €5.30/5.40kg. Heifers €5.35/5.45kg. Higher deals and flat prices for larger and specialist lots. Y Bulls R/U €5.40/5.60Kg. Cows €4.50/5.20kg.
Supply Figures as Reported by DAFM – WK 46 (17.11.2024)
| Animal | Number | Change prev wk | % of total | YTD | YTD Change |
| Y Bulls | 2,070 | ▲494 | 5% | 93,553 | ▼-8,826 |
| Bull | 449 | ▼-30 | 1% | 25,897 | ▲580 |
| Steer | 14,594 | ▼-42 | 37% | 613,068 | ▼-11,205 |
| Cow | 10,078 | ▲22 | 25% | 388,573 | ▲29,749 |
| Heifer | 12,369 | ▲412 | 31% | 455,802 | ▲22,097 |
| Veal-V | 193 | ▲143 | 0% | 20,605 | ▼-10,101 |
| Veal-Z | 102 | ▲65 | 0% | 1,710 | ▲254 |
| Total | 39,855 | ▲1,064 | 100% | 1,599,208 | ▲3,665 |
Official Irish Prices as Reported by DAFM – WK 46 (17.11.2024)
| c/kg (Incl. VAT) | U3 | Change prev wk | R3 | Change prev wk | O3 | Change prev wk | P+3 | Change prev wk |
| Steers | 560 | ▼-6 | 554 | ▲8 | 545 | ▲12 | 511 | ▲5 |
| Heifers | 567 | ▲5 | 557 | ▲5 | 554 | ▲9 | 506 | ▲8 |
| Y Bulls | 556 | ▲6 | 549 | ▲8 | 535 | ▲10 | 531 | ▲19 |
| Cows | 0 | ▲0 | 509 | ▲3 | 480 | ▲4 | 461 | ▲6 |
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 |
| 09/11/2024 | 527.8 | 526.6 | 525.8 | 52.1 | 516.1 | 516.4 | 375.3 |
| 16/11/2024 | 532.0 | 535.7 | 531.6 | 534.3 | 516.2 | 513.2 | 378.1 |
| Change | ▲4 | ▲9 | ▲512 | ▲482 | ▲0 | ▼-3 | ▲3 |
| Price in c/kg (Incl VAT) | 668.8 | 673.5 | 668.3 | 671.7 | 648.9 | 645.2 | 475.3 |
Euro Price for the Most Recent Week (€/KG Deadweight excl. VAT)
| Country & Type | 12.11.2022 | 11.11.2023 | 16.11.2024 |
| EU + Y Bulls | € 5.10 | € 4.88 | € 5.49 |
| IE + Steers | € 4.59 | € 4.61 | € 5.29 |
| UK + Steers | € 5.10 | € 5.51 | € 6.25 |
Live Cattle Exports 4th November
Sheep Update
IFA Sheep Chairman Adrian Gallagher said demand for lamb is intensifying as numbers continue to drop off. He said spring lamb throughput fell over 3,800 head for the latest week highlighting the tightening supply of lambs on the market. Total spring lamb throughput is running over 137,00 head behind the same period last year. Factories are offering deals from €7.80kg to €8.10kg with deals up to €8.25 secured for larger and specialised lots this week. Factories are also offering various deals on weights and transport to secure lambs. Market conditions for sheep meat are favourable in our key export markets. Uk and French markets have been steadily rising in the run up to the Christmas on the back of tight supplies and this must be reflected in prices offered by factories. He said factories are very anxious for lambs, supplies are projected to remain tight in the coming weeks and farmers should sell hard while moving lambs as they become fit.
Lamb Price Update 22/11/2024
Spring Lamb €7.80kg/8.10kg. 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 46 (17.11.2024)
| Animal | Figure | Change | YTD | YTD Change |
| Lambs/Hoggets | 1,264 | ▲1,200 | 899,125 | ▼-85,316 |
| Spring Lambs | 32,646 | ▼-3,888 | 1,112,254 | ▼-137,459 |
| Ewes and Rams | 3,807 | ▼-634 | 249,898 | ▼-49,823 |
| Light Lambs | 2 | ▲0 | 116 | ▼-33 |
| TOTAL | 37,719 | ▼-3,322 | 2,261,493 | ▼-272,531 |
Official Irish Prices as Reported by DAFM – WK 46 (17.11.2024)
| c/kg (Incl. VAT) | This week | Change prev. wk | 2023 | Change prev. yr |
| National Avg Price | 755.07 | ▲8 | 630.58 | ▲125 |
| YTD Avg | 774.29 | ▼-0 | 662.54 | ▲112 |
Official GB Prices as Reported by AHDB
| R3L | Overall SQQ* | Type of lamb | |
| 09/11/2024 | 626.7 | 625.2 | New season Lamb |
| 16/11/2024 | 651.5 | 648.6 | New season Lamb |
| Change | ▲25 | ▲23 | |
| Price in c/kg (Incl VAT) | 800.0 | 796.4 | 1 |
Live Sheep Exports 15th October
