August 22, 2024

 

Ireland sees less cattle of slaughter age towards end 2024 and into 2025, according to data

 

 

Current Irish "cattle population data suggests lower numbers of cattle of slaughter age towards the end of 2024 and into 2025" with an "impending tightening of [Irish beef cattle] supply" expected.

 

This is according to Hybu Cig Cymru-Meat Promotion Wales' (HCC's) senior market intelligence and research and development officer, Elizabeth Swancott.

 

In an update on the HCC website on August 13, the HCC officer said: "We are seeing a complex blend of factors influencing the beef marketplace in the first five months of this year."

 

She said that "solid consumer positivity" in the United Kingdom, coupled with limitations on supply "were likely to continue to help beef prices in the UK".

 

The report noted that of the 99,900 tonnes of beef exported to Great Britain this year, 77% came from Ireland, representing an 18% increase year-on-year for Irish products for the first five months of 2024.

 

Swancott outlined that GB steer deadweight price strengthened week-on-week throughout July but said that Irish beef prices saw a decline, and, as a result, the widening gap between GB and Irish steer deadweight prices "made Irish beef more price competitive within the UK".

 

The market research officer explained that the tightening of beef cattle supply which is forecast in Ireland "could have an influence on price and availability for export".

 

Bord Bia has forecast that the Irish cattle slaughter could fall by 30-40,000 head (-2%) in 2024 for the year as a whole and the HCC market research officer expects "this may begin to influence the market towards the end of 2024 and into 2025".

 

"The Irish supply position, combined with the tighter EU and UK supply outlooks, and propitious consumer demand, would all suggest favourable undertones for [UK] cattle prices in the long term," she said.

 

The market analysis report from the Welsh meat promotion body comes as supplies of Irish cattle have begun to tighten with supplies in the past three consecutive weeks remaining below equivalent weeks of last year.

 

This trend is materialising as the large cow kill seen in Ireland to date this year has started to level off and steer and young bull supplies are running below last year's levels.

 

Moves by Irish beef processors to reduce price in early August have failed to garner any significant levels of cattle and the August Irish beef trade has held relatively steady to date.

- Agriland