Beef Update
IFA Livestock Chairman Brendan Golden said beef prices have moved on 10c/kg this week on the back of tight supplies and strong market demand. He said factories are having to pay 10c/kg to 15c/kg above quotes this week to secure cattle as farmers rightly dig in and demand stronger returns from the market place. Tight supplies are evident of the ground with last week’s throughput showing a drop of 1,600/head on steers alone. He said prices in our key export markets are favourable creating strong demand for Irish beef in the run up to the Christmas trade. Despite the rising movement in beef prices, the prime Irish composite price continues to lag 31c/kg behind the prime export benchmark price and factories must continue this upward trajectory of prices to close this gap he said. The IFA Livestock Chairman said farmers should dig in and sell hard in this rising market.
Beef Price Update 23/10/2023
Base Quotes Steer €4.70/4.80kg. Heifers €4.75/4.85kg. Higher deals and flat prices for larger and specialist lots. Y Bulls R/U €4.80/5.00Kg. Cows €3.90/4.55kg.
Supply Figures as Reported by DAFM – WK 46 (19.11.2023)
| Animal | Number | Change prev wk | % of total | YTD | YTD Change |
| Y Bulls | 2,134 | ▲160 | 5% | 102,375 | ▼-14,220 |
| Bull | 517 | ▼-134 | 1% | 25,317 | ▼-268 |
| Steer | 13,838 | ▼-1,600 | 35% | 624,213 | ▼-23,104 |
| Cow | 11,969 | ▲667 | 31% | 358,875 | ▲540 |
| Heifer | 10,538 | ▼-369 | 27% | 433,705 | ▼-15,009 |
| Veal-V | 11 | ▼-17 | 0% | 30,707 | ▲2,387 |
| Veal-Z | 29 | ▼-20 | 0% | 1,455 | ▼-30 |
| Total | 39,036 | ▼-1,313 | 100% | 1,576,647 | ▼-49,704 |
Official Irish Prices as Reported by DAFM – WK 46 (19.11.2023)
| c/kg (Incl. VAT) | U3 | Change prev wk | R3 | Change prev wk | O3 | Change prev wk | P+3 | Change prev wk |
| Steers | 494 | ▲0 | 484 | ▲0 | 467 | ▲0 | 437 | ▲0 |
| Heifers | 502 | ▲0 | 490 | ▲0 | 483 | ▲0 | 432 | ▲0 |
| Y Bulls | 484 | ▲0 | 474 | ▲0 | 458 | ▲0 | 450 | ▲0 |
| Cows | 0 | ▲0 | 431 | ▲0 | 393 | ▲0 | 369 | ▲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 |
| 11/11/2023 | 489.9 | 494.4 | 487.5 | 491.1 | 475.9 | 481.3 | 325.1 |
| 18/11/2023 | 489.7 | 492.9 | 488.0 | 491.1 | 474.9 | 468.1 | 320.3 |
| Change | ▼-0 | ▼-2 | ▲1 | ▲0 | ▼-1 | ▼-13 | ▼-5 |
| Price in c/kg (Incl VAT) | 601.3 | 605.2 | 599.2 | 603.0 | 583.1 | 574.8 | 393.3 |
Euro Price for the Most Recent Week (€/KG Deadweight excl. VAT)
| Country & Type | 11.06.2021 | 11.05.2022 | 11.04.2023 |
| EU + Y Bulls | € 4.27 | – | € 4.87 |
| IE + Steers | € 4.15 | € 4.51 | € 4.59 |
| UK + Steers | € 4.86 | € 5.15 | € 5.52 |
Live Exports W/C 06.11.2023
Sheep Update
IFA Sheep Chairman Adrian Gallagher said lamb prices remain steady this week. Lambs are making from €6.60kg to €6.80kg on weights to 23kg with higher deals for groups and larger lots. Mart sales have improved, where agents and wholesalers are very active and competing strongly for the limited number of fleshed lambs available. He said prices in marts are comparable to and above what factories are offering in cases. Cull ewes are making from €2.70kg to €3.10kg in general. Adrian Gallagher said it’s a critical time of year for sheep farmers and factories must return viable prices to reflect production costs on farms and to ensure store lamb buyers remain active in marts. The IFA Sheep Chairman said factories are very anxious for lambs and farmers should sell hard and avoid selling unfinished lambs to maximise returns.
Lamb Price Update 23/10/2023
Spring Lamb €6.60/6.80/kg. Higher deals groups/larger lots. Ewes €2.70/3.10/kg.
Supply Figures as Reported by DAFM – WK 46 (19.11.2023)
| Animal | Figure | Change | YTD | YTD Change |
| Lambs/Hoggets | 2,117 | ▲1,921 | 984,441 | ▲80,195 |
| Spring Lambs | 50,602 | ▼-2,066 | 1,249,713 | ▼-81,384 |
| Ewes and Rams | 6,528 | ▼-1,894 | 299,721 | ▼-48,103 |
| Light Lambs | 0 | ▼-11 | 149 | ▲8 |
| TOTAL | 59,247 | ▼-2,050 | 2,534,024 | ▼-49,284 |
Official Irish Prices as Reported by DAFM – WK 46 (19.11.2023)
| c/kg (Incl. VAT) | This week | Change prev. wk | 2022 | Change prev. yr |
| National Avg Price | 641.37 | ▼-4 | 626.17 | ▲15 |
| YTD Avg | 661.49 | ▼-0 | 683.32 | ▼-22 |
Official GB Prices as Reported by AHDB
| R3L | Overall SQQ* | Type of lamb | |
| 11/11/2023 | 578.4 | 577.9 | New season lamb |
| 18/11/2023 | 592.3 | 589.9 | New season lamb |
| Change | ▲14 | ▲12 | |
| Price in c/kg (Incl VAT) | 727.3 | 724.3 |
Live Sheep Exports Jan-Sep
