June 2021 sheep prices
According to IFA sheep chairman, Sean Dennehy, farmers are resisting lower lamb quotes from factories.
He said this “strong” farmer resistance, coupled with tight supplies of suitable lambs, means factories are “not succeeding” in getting lamb prices back to the lower levels quoted.
“Buying has started for the EID festival, and factories are very anxious to secure supplies,” he explained.
“They are competing strongly in mart sales for lambs and cull ewes.”
Dennehy said factories are paying €7.00 to €7.20/kg, with deals to €7.30/kg to secure lambs. Cull ewes are making €3.30 to €3.60/kg.
Last week’s slaughter figures were back almost 3,000 head on the same week last year at 49,325, with the slaughter figures for the year back 81,551 head or 7%.
The IFA sheep chairman said farmers should “sell hard” as factories look to fill orders for the EID festival.
According to IFA livestock chairman, Brendan Golden, factories have increased beef prices by a further 5c/kg this week.
He said that steers are making €4.15/kg to €4.25/kg and heifers are ranging from €4.20 to €4.30/kg.
Golden outlined that cows are starting at €3.40/kg for P grades. He reported flat prices for mixes of Os and Ps of €3.60/kg and noted that top-quality beef cows are pushing to €3.85/kg and “over in cases”.
Furthermore, young bulls are ranging from €4.15/kg to €4.30/kg.
He said demand is strong, and numbers are extremely tight as demand from the foodservice sector improves throughout the EU.
“Young bull prices have strengthened over the past week, reflecting the stronger EU market for beef. “
“Cattle supplies are predicted to be extremely tight over the coming months. As the seasonal summer demand increases the volume of sales, factories must maximise returns to farmers in the favourable market conditions,” he concluded.
He advises farmers to “sell hard in a positive and strengthening market”.