Quotes

Base quotes from the major processors have improved slightly this week with €7.90/kg – €8.00/kg for well finished lambs (+QA bonus) on offer.  With well fleshed lambs in demand, some major processors have also increased paid carcass weight limits, with all main plants paying for a 23kg carcass.

Relatively tight lamb supplies combined with some stability in demand from the domestic and export markets have contributed to this firming of the trade all year. Tighter lamb supplies are also a feature in other key lamb producing regions of Europe and the UK with the latest Eurostat figures indicating a contraction in breeding flock numbers in many regions.

The Irish ewe flock contracted by 3.7 per cent in the December 2023 census versus December 2022 levels. This decline in the ewe flock of 107,000 head is one factor contributing to the tightness in supplies currently.

Prices

Last weeks reported deadweight price increased by 7c/kg to €7.74/kg, reflective of the continuing improvement recorded in quoted prices from the major lamb processors. In the corresponding week in 2023 the reported deadweight price was €6.46/kg. The deadweight trade has also improved across the UK regions.

Reported spring lamb prices in mainland GB were the equivalent of €7.93/kg  last week (+12c/kg) while in Northern Ireland there was a notable improvement in the trade to be €7.67/kg (+9c/kg). Relatively tight supplies of lamb for slaughter in Northern Ireland combined with competition from the live export trade to both mainland GB and ROI contributed to this firming in the trade.

Southern Hemisphere prices remain well below European prices however they have improved significantly over the last few weeks, narrowing the price differential with the EU. With a lead time on product shipments this recent improvement in deadweight prices should impact their competitiveness on EU markets in the medium to  longer term.

Prices this week took a jump and are at €5.30/kg and €4.46/kg for Australia and New Zealand respectively increasing by 11c/kg and 3c/kg after a period of mostly week on week increases for the past 15 weeks.

Throughput

There was a decrease in the total sheep kill in DAFM approved plants last week to 35,740 head, compared to 59,714 the same week in 2023. Tighter supplies has been a feature of the 2024 lamb season to date with a smaller lamb crop, a difficult lambing and changeable grass growing conditions all impacting lamb availability for processing.

Total TYD slaughter is down 9% on 2023 to total 2,318,846 head.

Bord Bia

Irish Cattle Trade & Prices Update: Throughput and Trends

MLA

Irish Beef Prices Soar

Prices

Deadweight pig prices in Ireland are on an upward trajectory in response to relatively tight supplies for slaughter. Prices have increased steadily week on week from a low of 190c/kg in mid February 2024. The average price paid for grade E pig prices in Ireland for the w/e 11th November was €2.02/kg excluding Vat. The current Irish price is 5c/kg lower than the corresponding week last year.

Throughput

While throughput has improved in the last quarter demand continues to run ahead of supplies. Total throughput YTD is 2,687,776 which is marginally behind the corresponding period in 2023.

The latest available data from the CSO shows that Irish exports of primary pigmeat products were valued at €243 million, 2% higher than the corresponding period in 2023. A recovery in pig supplies for processing and a slight improvement in carcase weights have contributed to a similar 2% increase in export volumes during H1.

Within the H1 exports, there were notable increases in the value of trade to the UK (+16% to €71 million), and EU markets (+25% to €59 million). Meanwhile, there were declines in the value of Irish pigmeat exports to Asian markets (-15% to €77 million) and Oceania (-37% to €16 million.).

Bord Bia

Irish Beef Prices Soar

Summary of Prices for Week Ending 16 November

Cattle

• The GB overall all-prime deadweight cattle price rose to 522.1p/kg, amid reduced kill numbers.
• Steers at R4L averaged 536p/kg (+5.7p), while R4L heifers reached 534p/kg (+6.2p). Young bulls saw the largest increase, up 7.1p to 509p/kg.
• Estimated prime cattle slaughter fell by 1,600 head (-4.6%), marking a four-week decline, suggesting the autumn kill peak has passed.
• Cow prices increased to 352p/kg (+4.6p), despite a slight rise in slaughter to 12,200 head (+100).
• Retail spend on beef rose 2.5% year-on-year, driven by higher average prices. Supplies are expected to tighten further in 2025.

Sheep

• GB new season lamb prices climbed to 649p/kg, a 23p rise week-on-week and 59p higher than 2023.
• Weekly lamb slaughter increased by 5% to 224,300 head, although year-to-date figures remain down 8% compared to 2023.
• Retail lamb sales grew 6.8% year-on-year, with roasting cuts driving demand. Export trade also supported prices.

Market Overview
Both cattle and sheep markets report strong trade, underpinned by robust demand, tightening supply, and retail growth in both beef and lamb.

AHDB

Irish Cattle Trade & Prices Update: Latest Figures and Trends

Throughput

There were 38,791 cattle processed in DAFM approved plants last week, a reduction of just over 1,500 head from the previous week. This uplift is primarily due to an increase in the cow kill when compared to the previous week.

Prime cattle throughput YTD is currently on par with the same period last year at 1,559,351 head although a notable tightening in prime cattle availability is expected as we move into the final quarter of the year. A contraction in cattle numbers on the ground and a lively export trade have contributed to this outlook with numbers expected to remain tight for much of 2025.

Average carcase weights also continue to trend below previous years with the combination of a challenging grass growing season and a growing dairy influence on the prime cattle kill playing a role in the decline. The downward trend in average carcase weights is expected to continue in the short to medium term with calf registrations to suckler cows continuing to decline, while the number of beef sired calves produced from the dairy herd continues to increase.

Prices

There was a lift in the steady base quotes at Irish meat plants this week in response to tighter supplies and an expected increase in retail and foodservice demand for the Christmas period. In general, producers were offered a base price of €5.10/kg for steers with reports of up to €5.20/kg available.

Starting quotes for heifers are in the region of €5.20/kg this week with similar room for negotiation being reported. The trade for young bulls was also described as steady, with prices of between €5.35/kg and €5.40/kg on-offer for R grading animals under 24 months of age.

The cow trade remains relatively steady, with well-fleshed O+ grading suckler cows being offered prices of €4.65-4.75/kg, while prices for O grading dairy cows generally range from €4.55-4.65/kg.

A significant proportion of the cow kill have achieved a conformation score of P in recent months and the prices available for these animals vary significantly based on grade, weight and quality.

For the week ending 10th November 2024, the average price paid by Irish beef processors for R3 increased slightly by 6c/kg to be at €5.20/kg. This remained 60c/kg ahead the corresponding week in 2023 when the R3 steer price was €4.60/kg. Note that reported prices exclude VAT but include all bonus payments such as in-spec bonus, breed-based producer groups etc.

EU and UK prices

Across the EU, the average reported price for R3 grading young bulls was €5.44//kg (excluding VAT) for the week ending 10th November, 2024. This is 49c higher than Week 45 of last year when prices averaged €4.89/kg for this category.

In the UK, tighter cattle supplies and firm demand have meant deadweight beef prices have continued to firm. This week the average UK R3 steer price increased by 3c/kg to €6.16/kg.

Bord Bia

Quotes

Base quotes from the major processors have improved slightly this week with €7.30/kg – €7.55/kg for well finished lambs (+QA bonus) on offer.  With well fleshed lambs in demand, some major processors have also increased paid carcass weight limits, with all main plants paying for a 23kg carcass.

Relatively tight lamb supplies combined with some stability in demand from the domestic and export markets have contributed to this firming of the trade all year. Tighter lamb supplies are also a feature in other key lamb producing regions of Europe and the UK with the latest Eurostat figures indicating a contraction in breeding flock numbers in many regions. The Irish ewe flock contracted by 3.7 per cent in the December 2023 census versus December 2022 levels. This decline in the ewe flock of 107,000 head is one factor contributing to the tightness in supplies currently.

Prices

Last weeks reported deadweight price increased by 15c/kg to €7.31/kg, reflective of the continuing improvement recorded in quoted prices from the major lamb processors. In the corresponding week in 2023 the reported deadweight price was €6.26/kg. The deadweight trade has also improved across the UK regions.

Reported spring lamb prices in mainland GB were the equivalent of €7.43/kg  last week (0c/kg) while in Northern Ireland there was a notable improvement in the trade to be €7.15/kg (+1c/kg).

Relatively tight supplies of lamb for slaughter in Northern Ireland combined with competition from the live export trade to both mainland GB and ROI contributed to this firming in the trade.

Southern Hemisphere prices remain well below European prices however they have improved significantly over the last few weeks, narrowing the price differential with the EU. With a lead time on product shipments this recent improvement in deadweight prices should impact their competitiveness on EU markets in the medium to  longer term. Prices this week took a jump and are at €5.21/kg and €4.38/kg for Australia and New Zealand respectively increasing by 21c/kg and 3c/kg after a period of mostly week on week increases for the past 15 weeks.

Throughput

There was a decrease in the total sheep kill in DAFM approved plants last week to 44,465 head, compared to 58,188 the same week in 2023. Tighter supplies has been a feature of the 2024 lamb season to date with a smaller lamb crop, a difficult lambing and changeable grass growing conditions all impacting lamb availability for processing. Total TYD slaughter is down 9% on 2023 to total 2,140,618 head.

Bord Bia

Irish Cattle Trade & Prices Update: Throughput and Outlook

Throughput

There were 39,969  cattle processed in DAFM approved plants last week, a slight reduction of just over 500 head from the previous week. This uplift is primarily due to an increase in the cow kill when compared to the previous week.

Prime cattle throughput YTD is currently on par with the same period last year at 1,080,480 head although a notable tightening in prime cattle availability is expected as we move into the final quarter of the year. A contraction in cattle numbers on the ground and a lively export trade have contributed to this outlook with numbers expected to remain tight for much of 2025.

Average carcase weights also continue to trend below previous years with the combination of a challenging grass growing season and a growing dairy influence on the prime cattle kill playing a role in the decline. The downward trend in average carcase weights is expected to continue in the short to medium term with calf registrations to suckler cows continuing to decline, while the number of beef sired calves produced from the dairy herd continues to increase.

Prices

There was a lift in the steady base quotes at Irish meat plants this week in response to tighter supplies and an expected increase in retail and foodservice demand for the Christmas period. In general, producers were offered a base price of €5.10/kg for steers with reports of up to €5.20/kg available. Starting quotes for heifers are in the region of €5.20/kg this week with similar room for negotiation being reported. The trade for young bulls was also described as steady, with prices of between €5.35/kg and €5.40/kg on-offer for R grading animals under 24 months of age.

The cow trade remains relatively steady, with well-fleshed O+ grading suckler cows being offered prices of €4.65-4.75/kg, while prices for O grading dairy cows generally range from €4.55-4.65/kg. A significant proportion of the cow kill have achieved a conformation score of P in recent months and the prices available for these animals vary significantly based on grade, weight and quality.

For the week ending 27th October 2024, the average price paid by Irish beef processors for R3 increased slightly by 5c/kg to be at €5.12/kg. This remained 54c/kg ahead the corresponding week in 2023 when the R3 steer price was €4.58/kg. Note that reported prices exclude VAT but include all bonus payments such as in-spec bonus, breed-based producer groups etc.

EU and UK prices:

Across the EU, the average reported price for R3 grading young bulls was €5.38//kg (excluding VAT) for the week ending 27th October, 2024. This is 49c higher than week 43 of last year when prices averaged €4.89/kg for this category.

In the UK, tighter cattle supplies and firm demand have meant deadweight beef prices have continued to firm. This week the average UK R3 steer price increased by 3c/kg to €6.16/kg.

Bord Bia

Throughput

There were 40,777  cattle processed in DAFM approved plants last week, an uplift of just over 430 head from the previous week. This uplift is primarily due to an increase in the cow kill when compared to the previous week.

Prime cattle throughput YTD is currently on par with the same period last year at 1,051,293 head although a notable tightening in prime cattle availability is expected as we move into the final quarter of the year. A contraction in cattle numbers on the ground and a lively export trade have contributed to this outlook with numbers expected to remain tight for much of 2025.

Average carcase weights also continue to trend below previous years with the combination of a challenging grass growing season and a growing dairy influence on the prime cattle kill playing a role in the decline. The downward trend in average carcase weights is expected to continue in the short to medium term with calf registrations to suckler cows continuing to decline, while the number of beef sired calves produced from the dairy herd continues to increase.

Prices

There was a lift in the steady base quotes at Irish meat plants this week in response to tighter supplies and an expected increase in retail and foodservice demand for the Christmas period. In general, producers were offered a base price of €5.10/kg for steers with reports of up to €5.30/kg available. Starting quotes for heifers are in the region of €5.15/kg this week with similar room for negotiation being reported.

The trade for young bulls was also described as steady, with prices of between €5.35/kg and €5.40/kg on-offer for R grading animals under 24 months of age.

The cow trade remains relatively steady, with well-fleshed O+ grading suckler cows being offered prices of €4.55-4.65/kg, while prices for O grading dairy cows generally range from €4.65-4.75/kg. A significant proportion of the cow kill have achieved a conformation score of P in recent months and the prices available for these animals vary significantly based on grade, weight and quality.

For the week ending 19th October 2024, the average price paid by Irish beef processors for R3 increased slightly by 2c/kg to be at €5.07/kg. This remained 49c/kg ahead the corresponding week in 2023 when the R3 steer price was €4.58/kg.

Note that reported prices exclude VAT but include all bonus payments such as in-spec bonus, breed-based producer groups etc.

EU and UK prices:

Across the EU, the average reported price for R3 grading young bulls was €5.35/kg (excluding VAT) for the week ending 19th October, 2024. This is 46c higher than week 42 of last year when prices averaged €4.89/kg for this category.

In the UK, tighter cattle supplies and firm demand have meant deadweight beef prices have continued to firm. This week the average UK R3 steer price increased by 4c/kg to €6.13/kg.

Bord Bia

Quotes

Base quotes from the major processors have improved this week with €7.30/kg – €7.40 for well finished lambs (+QA bonus) on offer, with tightening lamb numbers contributing to this uplift. The improvements in the trade are also being  supported by stable demand from both the domestic and export markets.

Tighter lamb supplies are also a feature in other key lamb producing regions of Europe and the UK with the latest production and forecast figures indicating a contraction in flock sizes and lamb availability for slaughter.

Prices

Last weeks reported deadweight price increased by 8c/kg to €7.31/kg, reflective of the improvement in quoted prices from the major lamb processors in the last few weeks. In the corresponding week in 2023 the reported deadweight price was €6.23/kg. The deadweight trade has also improved across the UK regions.

Reported spring lamb prices in mainland GB were the equivalent of €7.43/kg  last week (+5c/kg) while in Northern Ireland there was a notable improvement in the trade to €7.15/kg (+14c/kg). Relatively tight supplies of lamb for slaughter in Northern Ireland combined with competition from the live export trade to both mainland GB and ROI has contributed to this firming in the trade.

Southern Hemisphere prices remain well below European prices however in more recent months there has been a narrowing in the price differential with the EU. The lead time on product shipments and this recent improvement in deadweight prices should impact their competitiveness on EU markets in the short to medium term.

Prices this week slipped slightly and are at €5.01/kg and €4.36/kg for Australia and New Zealand respectively (decreasing by 3c/kg and 1c/kg). Thhhis decline follows on from a 10 week period in which week on week increases were recorded in deadweight prices.

 

Throughput

There was a notoble decrease in the total sheep kill in DAFM approved plants last week to 49,526  head, compared to 57,499 the same week in 2023. Tighter supplies has been a feature of the 2024 lamb season to date with a smaller lamb crop, a difficult lambing and changeable grass growing conditions all impacting lamb availability for processing.

Total TYD slaughter is down 9% on 2023 to total 2,096,153 head.

Bord Bia