Cattle Trade & Prices

Cattle & Beef

Throughput: There were 31,984 cattle processed in DAFM approved plants during the week ending May 19th 2024, taking throughput for the year to date to 692,034 head. This is a 18,573 head or 3% increase on the corresponding period in 2023 when a total of 673,461 cattle were processed. There have been 494,448  prime cattle processed in the first 20 weeks of 2024, a 3% increase from the same period last year (+11,520 head). Cow throughput has remained strong with 167,808 cows processed so far this year, a notable increase of 18,817 head (+10%)

Prices: Base quotes this week are in the region of €5.00/kg for steers while starting quotes for heifers are around €5.10/kg. The trade for the smaller numbers of young bulls on offer remains steady with €5.20-5.30/kg available for R grading animals under 24 months of age. 

The cow trade has remained solid. Well fleshed O grading cows are being quoted at €4.50 with €4.70-4.90c/kg available for good quality R grading cows. 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 May 19th 2024, the average price paid by Irish beef processors for R3 decreased by 6c/kg to be €5.16/kg. This was 7c/kg behind the corresponding week in 2023 when the R3 steer price was €5.23/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: 

European young bull prices have held relatively stable in the early weeks of 2024. The average reported price for R3 grading young bulls was €5.02/kg (excluding VAT) for the week ending May 18th 2024. This is the same as Week 20 last year. Tighter cattle supplies and firm demand have meant deadweight beef prices in the UK have remained strong. This week the average R3 steer price decreased slightly by 2c/kg to be €5.70/kg (equivalent to £4.85/kg).

Live Exports 

The trading of live animals continues to be a very important element of the Irish livestock industry with 202,443 cattle exported during the first 20  weeks  of 2024. This is back seven per cent from 2023 levels but on par with trade levels in the same period in 2022. The reduction recorded so far this year is primarily due to a delayed start to the calf export season and some weather interruptions to the trade.

Calf exports have picked up in the last few weeks after a slow start with 171,702 animals traded year to date. This is 13 per cent behind the record levels seen in 2023, however with steady demand being reported across key export markets this differential is expected to narrow in the weeks ahead.

The Netherlands remains the largest market outlet for Irish calves so far in 2024 with 67,346 animals traded, a 38% reduction from year earlier levels. Spain remains an important market for stronger beef sired calves in particular with 58,272 animals traded so far this year, a 11 per cent increase from the same period last year. Trade with Central and Eastern Europe has also been firm with significant numbers of calves exported to Poland, Romania, Hungary and Croatia so far in 2024.

There has been a particularly strong start to the year from an international trading perspective with several large consignments of weanling, store and adult cattle destined for Israel, Algeria and Morocco in the early months of the year.

The trade with the UK has also gotten off to a firm start with 20,297 (+11%) cattle making the journey to Northern Ireland where tighter cattle supplies and firm demand for beef are underpinning demand for Irish feeding and store cattle. A further2613 animals have been exported to Great Britain so far this year, primarily dairy females for further production.