Beef Update
IFA livestock chair Declan Hanrahan said attempts by factories to lower quotes for beef cattle are at odds with market conditions. He said UK prices have increased again in the past week on the back of tight supplies and good demand for beef in our key market.Declan Hanrahan said imports of beef to the UK have increased by 11% this year, with Irish beef accounting for most of this increase. “As the UK market takes increasing volumes of our beef, there is no justification for the extent of the differential in price, which currently stands at almost 60c/kg.” This divergence in prices cannot be justified, is unacceptable and must stop. Declan Hanrahan said. “Farmers should reject the negative and unfounded propaganda coming from factories and their agents. Supplies are tight, demand is strong, and factories are very anxious for cattle.”
Beef Price Update 25/07/2024
Base Quotes Steer €4.95/5.10kg. Heifers €5.00/5.15kg. Higher deals and flat prices for larger and specialist lots. Y Bulls R/U €5.10/5.30Kg. Cows €4.30/5.00kg.
Supply Figures as Reported by DAFM – WK 29 (21.07.2024)
| Animal | Number | Change prev wk | %of total | YTD | YTD Change |
| Y Bulls | 2269 | ▲648 | 7% | 71612 | ▼-5,050 |
| Bull | 681 | ▼-73 | 2% | 16165 | ▲163 |
| Steer | 11511 | ▼-1,141 | 35% | 341630 | ▼-4,378 |
| Cow | 9336 | ▲0 | 28% | 243942 | ▲22,869 |
| Heifer | 8869 | ▲134 | 27% | 278999 | ▲7,591 |
| Veal-V | 97 | ▼-218 | 0% | 19582 | ▼-10,852 |
| Veal-Z | 10 | ▼-21 | 0% | 1187 | ▲84 |
| Total | 32773 | ▲96 | 100% | 973117 | ▲3,665 |
Official Irish Prices as Reported by DAFM – WK 29 (21.07.2024)
| c/kg (Incl. VAT) | U3 | Change prev wk | R3 | Change prev wk | O3 | Change prev wk | P+3 | Change prev wk |
| Steers | 540 | ▼-6 | 531 | ▼-5 | 518 | ▼-5 | 488 | ▼-1 |
| Heifers | 554 | ▼-4 | 535 | ▼-6 | 527 | ▼-6 | 479 | ▼-4 |
| Y Bulls | 536 | ▼-8 | 523 | ▼-6 | 503 | ▼-8 | 486 | ▼-3 |
| Cows | 0 | ▲0 | 482 | ▼-3 | 445 | ▼-4 | 430 | ▼-5 |
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 |
| 06/07/2024 | 486.7 | 488.8 | 485.3 | 490.1 | 475.1 | 474 | 386.9 |
| 13/07/2024 | 488.4 | 490.0 | 482.4 | 486.6 | 473.3 | 472.3 | 385.6 |
| Change | ▲2 | ▲1 | ▲2 | ▲1 | ▲2 | ▲4 | ▼-3 |
| Price in c/kg (Incl VAT) | 599.7 | 601.7 | 598.7 | 603.1 | 586.7 | 587.1 | 474.6 |
Euro Price for the Most Recent Week29 (€/KG Deadweight excl. VAT)
| Country & Type | 28.02.2022 | 06.07.2023 | 13.07.2024 |
| EU + Y Bulls | € 4.98 | € 4.93 | € 5.06 |
| IE + Steers | € 5.26 | € 4.94 | € 5.12 |
| UK + Steers | € 5.19 | € 5.59 | € 5.73 |
Live Exports W/C 15.01.2024
Sheep Update
IFA Sheep committee chairman Adrian Gallagher said demand for well fleshed lambs has increased this week with prices rebounding by 10c to 15c/kg.
Adrian Gallagher lead delegations of IFA sheep committee members in meetings with the sheep factories last week.
IFA set out to the factory management teams the damage the severity of the price cuts was doing to the sector and the impact it would have on decisions farmers will make for the breeding season.
The IFA sheep committee chairman said he called for an immediate stop to the price cuts and a return to a price that reflect the costs of lamb production on farms.
Lamb Price Update 25/07/2024
Spring Lamb €7.25kg/7.40kg. Weights to 22kg. Hogget €6.00/6.35/kg. Weights to 24kg. Higher deals groups/larger lots. Ewes €3.90/4.30/kg.
Supply Figures as Reported by DAFM – WK 29 (21.07.2024)
| Animal | Figure | Change | YTD | YTD Change |
| Lambs/Hoggets | 940 | ▼-58 | 892620 | ▼-84,055 |
| Spring Lambs | 39383 | ▼-5,487 | 356973 | ▼-69,040 |
| Ewes and Rams | 5679 | ▲1,041 | 133861 | ▼-22,590 |
| Light Lambs | 0 | ▼-5 | 101 | ▼-25 |
| TOTAL | 46002 | ▼-4,509 | 1383555 | ▼-175,710 |
Official Irish Prices as Reported by DAFM – WK 29(21.07.2024)
| c/kg (Incl. VAT) | This week | Change prev. wk | 2023 | Change prev. yr |
| National Avg Price | 861.14 | ▼-720 | 675.73 | ▼-737 |
| YTD Avg | 733.19 | ▼-806 | 624.81 | ▼-671 |
Official GB Prices as Reported by AHDB
| R3L | Overall SQQ* | Type of lamb | |
| 13/07/2024 | 645.9 | 645.6 | New season lamb |
| 20/07/2024 | 647.0 | 647.2 | New season Lamb |
| Change | ▲1 | ▲2 | |
| Price in c/kg (Incl VAT) | 794.5 | 794.7 |
