Beef Update
IFA National Livestock chairman Brendan Golden said supplies of cattle are extremely tight with throughput dropping over the last two weeks by 3,700 to 32,098. The kill to date has been very strong at 739,869 which is 81,619 head above last year’s levels with the increased figures for the year predicted by Bord Bia almost all through the system at this stage. Brendan Golden said the biggest increase in throughput is in steers up 29,000, cows are next at 26,000 and then heifers at 17,000. He said the high level of throughput to-date has left supplies of beef cattle on the ground extremely tight as is evident from the drop off recorded in the past fortnight. The IFA livestock chairman said this is leading to more intense competition between factories for cattle and ensuring beef prices continue to strengthen driven by demand from our key markets in the UK and EU. Brendan Golden said beef farmers have made significant investments in cattle for finishing for the end of this year and into next year and it is critical beef prices reflect the full extent of these costs.
Beef Price Update 02/06/2022
Steer Base €5.25/5.35kg. Heifers €5.30/5.40kg. Higher deals and flat prices for larger and specialist lots. Y Bulls R/U €5.50/5.70Kg. Cows €4.70/5.30kg
Supply Figures as Reported by DAFM – Week 21 (29.05.2022)
| Animal | Number | Change prev wk | % of total | YTD | YTD Change |
| Y Bulls | 3,070 | ▼-106 | 10% | 62,203 | ▲1,670 |
| Bull | 758 | ▲51 | 2% | 11,452 | ▲1,007 |
| Steer | 11,260 | ▼-1,932 | 35% | 263,794 | ▲28,865 |
| Cow | 8,531 | ▲1,096 | 27% | 161898 | ▲25,718 |
| Heifer | 8,411 | ▼-219 | 26% | 211,741 | ▲16,895 |
| Veal-V | 33 | ▲29 | 0% | 27,863 | ▲7,389 |
| Veal-Z | 33 | ▼-26 | 0% | 918 | ▲75 |
| Total | 32,098 | ▼-1,105 | 100% | 739,869 | ▲81,619 |
Official Irish Prices as Reported by DAFM – Week 21 (29.05.2022)
| c/kg (Incl. VAT) | U3 | Change prev wk | R3 | Change prev wk | O3 | Change prev wk | P+3 | Change prev wk |
| Steers | 563 | ▲12 | 555 | ▲11 | 545 | ▲12 | 514 | ▲8 |
| Heifers | 567 | ▲13 | 556 | ▲12 | 550 | ▲14 | 507 | ▲10 |
| Y Bulls | 549 | ▲12 | 545 | ▲16 | 525 | ▲15 | 512 | ▲14 |
| Cows | 0 | ▲0 | 511 | ▲8 | 490 | ▲14 | 479 | ▲15 |
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 |
| 21/05/2022 | 445.6 | 447 | 446.2 | 448.5 | 441.4 | 439.5 | 377.5 |
| 28/05/2022 | 444.2 | 447.0 | 438.5 | 446.6 | 448.1 | 439.9 | 438.6 |
| Change | ▼-1 | ▲0 | ▲0 | ▼-0 | ▼-3 | ▲1 | ▲2 |
| Price in c/kg (Incl VAT) | 551.9 | 555.3 | 554.8 | 556.7 | 544.9 | 547.4 | 472.0 |
Euro Price for the Most Recent Week (€/KG Deadweight excl. VAT)
| Country & Type | 16.05.2020 | 15.05.2021 | 14.05.2022 |
| EU + Y Bulls | € 3.42 | € 3.82 | € 5.13 |
| IE + Steers | € 3.55 | € 4.14 | € 5.03 |
| UK + Steers | € 3.80 | € 4.69 | € 5.17 |
Live Exports W/C 16.05.2022
Sheep Update
IFA Sheep committee chairman Kevin Comiskey said we are approaching the end of hogget supplies and spring lamb numbers are increasing but still remain below last years levels. He said hoggets are trading between €7.20/kg and €7.50/kg with factories still trying to buy spring lamb between €8.20/kg and €8.50/kg to 21/kgs. Cull ewes are in very strong demand with top end prices of €4.20/kg paid. Kevin Comiskey said throughput in sheep factories to-date at 1,092,853 is 15% up on last year and this is due to a significant increase in hogget numbers, up 179,390 on last year or 26% while spring lamb throughput is back just under 30,000 head or 20%. He said the profile of the kill over the past few weeks has changed and is now dominated by spring lambs which made up 29,217 of the total throughput of 48,669. The IFA sheep chairman said strong market returns from factories for spring lamb over the coming weeks will be critical to offset input costs and maintain confidence in the sector in advance of the store lamb trade later in the year.
Lamb Price Update 02/06/2022
Hogget €7.30/7.50/kg. Spr lamb €8.20/8.40/kg. Weights to 21kg. Higher deals groups/larger lots. Ewes €3.80/4.20/kg.
Supply Figures as Reported by DAFM – Week 21 (29.05.2022)
| Animal | Figure | Change | YTD | |
| Lambs/Hoggets | 13,354 | ▼-3,209 | 865,457 | ▲179,390 |
| Spring Lambs | 29,217 | ▲3,293 | 116,338 | ▼-29,677 |
| Ewes and Rams | 6,088 | ▼-221 | 110,995 | ▼-5,592 |
| Light Lambs | 10 | ▲5 | 63 | ▼-39 |
| TOTAL | 48,699 | ▼-102 | 1,092,853 | ▲144,082 |
Official Irish Prices as Reported by DAFM – Week 21 (29.05.2022)
| c/kg (Incl. VAT) | This week | Change prev. wk | 2021 | Change prev. yr |
| National Avg Price | 773.11 | ▲8 | 758.86 | ▲14 |
| YTD Avg | 707.30 | ▲3 | 688.19 | ▲19 |
Official GB Prices as Reported by AHDB
| R3L | Overall SQQ* | Type of lamb | |
| 21/05/2022 | 669.7 | 672.0 | New season |
| 28/05/2022 | 660.2 | 661.5 | New season |
| Change | ▼-10 | ▼-11 | |
| Price in c/kg (Incl VAT) | 820.2 | 821.8 |
