Beef Update
IFA Livestock Chairman Declan Hanrahan said beef prices remain steady this week. He said steers are making from €5.20kg to €5.30kg while heifers are ranging from €5.25kg to €5.30kg. Young bulls R and U grades are making from €5.30kg to €5.50. Cow prices are ranging from €5.30kg to €5.10kg. Declan Hanrahan said there are indications of tighter grass cattle supplies in the coming weeks due to poor weather conditions. UK prices remain strong, beef supplies across the EU are tight and demand for beef is expected to increase as the summer progresses. The positive supply demand balance in the coming weeks must return higher prices to beef farmers he said.
Beef Price Update 28/06/2024
Base Quotes Steer €5.20/5.30kg. Heifers €5.25/5.35kg. Higher deals and flat prices for larger and specialist lots. Y Bulls R/U €5.30/5.50Kg. Cows €4.30/5.10kg.
Supply Figures as Reported by DAFM – WK 25 (23.06.2024)
| Animal | Number | Change prev wk | % of total | YTD | YTD Change |
| Y Bulls | 2,843 | ▼-377 | 9% | 62,363 | ▼-5,030 |
| Bull | 671 | ▼-101 | 2% | 13,453 | ▲48 |
| Steer | 9,996 | ▲573 | 32% | 296,255 | ▼-63 |
| Cow | 9,050 | ▲1,054 | 29% | 206,849 | ▲17,857 |
| Heifer | 8,253 | ▲205 | 27% | 244,301 | ▲8,318 |
| Veal-V | 50 | ▼-127 | 0% | 19,130 | ▼-11,284 |
| Veal-Z | 24 | ▲7 | 0% | 1,120 | ▲120 |
| Total | 30,887 | ▲1,234 | 100% | 843,471 | ▲3,665 |
Official Irish Prices as Reported by DAFM – WK 25 (23.06.2024)
| c/kg (Incl. VAT) | U3 | Change prev wk | R3 | Change prev wk | O3 | Change prev wk | P+3 | Change prev wk |
| Steers | 556 | ▲0 | 546 | ▼-1 | 536 | ▲2 | 504 | ▲1 |
| Heifers | 566 | ▲0 | 551 | ▲1 | 542 | ▲1 | 491 | ▼-1 |
| Y Bulls | 551 | ▲3 | 538 | ▲1 | 519 | ▼-1 | 503 | ▲0 |
| Cows | 0 | ▲0 | 496 | ▲0 | 459 | ▲4 | 446 | ▲4 |
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 |
| 15/06/2024 | 484.1 | 484.4 | 482.1 | 485.2 | 473.7 | 470.9 | 360.3 |
| 15/06/2024 | 483.9 | 485.7 | 482.6 | 486.1 | 474.0 | 470.7 | 386.5 |
| Change | ▼-0 | ▲1 | ▲1 | ▲1 | ▲0 | ▼-0 | ▲1 |
| Price in c/kg (Incl VAT) | 594.2 | 596.4 | 592.6 | 596.9 | 582.0 | 578.0 | 474.6 |
Euro Price for the Most Recent Week (€/KG Deadweight excl. VAT)
| Country & Type | 28.05.2022 | 27.05.2023 | 01.06.2024 |
| EU + Y Bulls | € 4.98 | € 4.96 | € 5.07 |
| IE + Steers | € 5.26 | € 5.22 | € 5.13 |
| UK + Steers | € 5.19 | € 5.70 | € 5.66 |
Live Cattle Exports W/C 10.06.2024
Sheep Update
IFA Sheep Chairman Adrian Gallagher said further cuts to lamb price is unacceptable and must stop immediately. He said this practice of quoting prices that in way no reflect the market is angering farmers and is undermining producer groups who have made commitments to factories for the coming months. The IFA Sheep Chairman said lamb numbers are tight on the ground an there was no rational to weaken lamb prices. He said the tightening of number is reflected in the latest kill with throughput falling almost 16,000 head from the previous week. Adrian Gallagher has called on factories to be responsible in their pricing of lambs and hoggets, and to stand firm in the market place to maintain prices to sheep farmers. Spring lambs are making from €8.00kg to €8.30kg while hoggets are ranging from €7.00kg to €7.30kg. Cull ewes are making from €3.90kg to €4.30kg in general.
Lamb Price Update 28/06/2024
Spring Lamb €8.00/8.30/kg. Weights to 21.5kg. Hogget €7.00/7.30kg. Weights to 24kg. Higher deals groups/larger lots. Ewes €3.90/4.30/kg.
Supply Figures as Reported by DAFM – WK 25 (23.06.2024)
| Animal | Figure | Change | YTD | YTD Change |
| Lambs/Hoggets | 5,201 | ▼-12,696 | 886,570 | ▼-78,565 |
| Spring Lambs | 37,163 | ▼-3,832 | 192,877 | ▼-50,900 |
| Ewes and Rams | 4,679 | ▲249 | 115,097 | ▼-17,899 |
| Light Lambs | 5 | ▲2 | 90 | ▼-30 |
| TOTAL | 47,048 | ▼-16,277 | 1,194,634 | ▼-147,394 |
Official Irish Prices as Reported by DAFM – WK 25 (23.06.2024)
| c/kg (Incl. VAT) | This week | Change prev. wk | 2023 | Change prev. yr |
| National Avg Price | 861.14 | ▼-39 | 675.73 | ▲62 |
| YTD Avg | 733.19 | ▲1 | 624.81 | ▲132 |
Official GB Prices as Reported by AHDB
| R3L | Overall SQQ* | Type of lamb | |
| 15/06/2024 | 810.4 | 810.7 | Old season lamb |
| 22/06/2024 | 782.0 | 780.0 | Old season lamb |
| Change | ▼-28 | ▼-31 | |
| Price in c/kg (Incl VAT) | 960.2 | 957.8 | 1 |
Live Sheep Exports March 31st 2024
