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Beef & Sheep Update 2nd August

Sheep and Cattle in Wicklow

Beef Update

IFA National Livestock Chair Declan Hanrahan said there is no hiding place for the Minister for Agriculture Charlie McConalogue or his Government colleagues as the National Farm Survey results from Teagasc lay bare the harsh realities of the income situation of suckler and beef farms, with suckler incomes dropping to the lowest levels recorded. He said low incomes and a flawed approach to the CAP, which has drained supports from our most productive suckler and beef farmers, is leaving the entire sector in a very precarious situation. A drop of 15% in Family Farm Income in this already low-income vulnerable sector has brought incomes to the lowest levels ever recorded for suckler farms, a situation that is not sustainable and cannot be allowed to continue by the Minister for Agriculture and Government. “Suckler farmers depend on direct supports for over 230% of FFI. He said the decline of the suckler herd will only be stopped when the direct supports on the cow are brought to at least €300/cow in schemes that are practical to implement.  We have €200/hd in supports for the first 22 cows, but a significant chunk of these supports is eroded from costs, which is reducing the value of the supports and also hindering farmer participation. They must come forward with funding in the upcoming Budget to provide total targeted payments of €300/cow for suckler cows and cattle rearing, and finishing supports of €100/animal for both the rearing and finishing phases for beef farmers.

Beef Price Update 01/08/2024

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 23 (28.07.2024)

AnimalNumberChange prev wk% of totalYTDYTD Change
Y Bulls1,541▼-80 5%73,168▼-5,298 
Bull782▲282%16,965▲265
Steer13,056▲40440%354,676▼-6,454 
Cow7,990▲024%251,920▲23,617
Heifer9,402▲66729%288,390▲8,724
Veal-V67▼-248 0%19,649▼-10,789 
Veal-Z20▼-11 0%1,207▲96

Official Irish Prices as Reported by DAFM – WK 30 (28.07.2024)

c/kg (Incl. VAT)U3Change prev wkR3Change prev wkO3Change prev wkP+3Change prev wk
Steers535▼-5 527▼-4 515▼-3 480▼-8 
Heifers544▼-10 531▼-4 524▼-3 476▼-3 
Y Bulls532▼-4 517▼-6 498▼-5 488▲2
Cows0▲0486▲4443▼-2 427▼-3 

Official GB Prices as Reported by AHDB

 SteersSteersHeifersHeifersY bullY bullCow
p/kgR3R4LR3R4LR3R4L-O4L
20/07/2024488.4490487.6491.2477.8478.1386.5
27/07/2024489.7492.1488.3490.9478.5479.4386.1
Change▲1▲2▲1▼-0 ▲1▲1▼-1 
Price in c/kg (Incl VAT)601.3604.3599.6602.8587.6588.7472.9

Euro Price for the Most Recent Week  (€/KG Deadweight excl. VAT)

Country & Type28.02.202208.07.202313.07.2024
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 22.07.2024

Source: Bord Bia

Sheep Update

IFA Sheep Chairman Adrian Gallagher said lamb prices remain steady this week with increased appetite from factories for supplies of suitable lambs. He said this week base quotes are not reflecting prices paid to farmers as factories are offering deals up to €7.40kg on weights to 22kg for spring lambs. Demand for lamb in or key export markets has improved with UK and French prices for lamb increasing following a number of weeks of downward pressure. Adrian Gallagher said factories must follow suit and increase prices in line with our key exports markets. He said the mart trade remains a viable outlet for farmers as lamb prices exceed what factories are offering in a lot in instances. Cull ewes are making from €3.90kg to €4.40kg in general. Adrian Gallagher farmers should weigh up their options when marketing lambs and sell hard as they become fit. 

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 30 (28.07.2024)

AnimalFigureChangeYTDYTD Change
Lambs/Hoggets673▼-267 893,293▼-83,961 
Spring Lambs40,804▲1,421397,777▼-76,044 
Ewes and Rams6,146▲467140,007▼-22,473 
Light Lambs1▲1102▼-25 
TOTAL47,624▲1,6221,431,179▼-182,503 

Official Irish Prices as Reported by DAFM – WK 30 (28.07.2024)

c/kg (Incl. VAT)This week Change prev. wk2023Change prev. yr
National Avg Price861.14▲5675.73▲51
YTD Avg733.19▼-3 624.81▲116

Official GB Prices as Reported by AHDB

 R3L Overall SQQ*Type of lamb
20/07/2024647.0647.2New season Lamb
27/07/2024648.6649.0New season Lamb
Change▲2▲2 
Price in c/kg (Incl VAT)796.4796.91

Live Sheep Exports 30th June 2024

Source: Bord Bia

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