Irish Beef Market Analysis: Steady Supplies and Rising Prices Amid Upcoming Shortages
- Recent figures indicate that factory cattle supplies are steady.
- In Autumn 2024, the Irish beef trade has shown unusual price increases, defying the typical trend of falling prices in the year's final quarter.
- Stable weather in October and November eased pressure on farmers, allowing them to sell finished grass cattle.
Current Trends in Irish Beef Trade
Table of Contents
Recent figures indicate that factory cattle supplies are steady. However, there are concerns about supply for the next four to five months.
In Autumn 2024, the Irish beef trade has shown unusual price increases, defying the typical trend of falling prices in the year’s final quarter.
Stable weather in October and November eased pressure on farmers, allowing them to sell finished grass cattle. This strong demand from the market has helped sustain the rise in beef prices.
Weekly Beef Kill Comparison
The following graph presents the weekly beef kill data from the last 12 weeks of this year compared to last year:
Kill Composition Data
According to recent data for the week ending November 17, here is the beef kill composition compared to the same week last year and cumulative totals for the year:
| Type | Week Ending Sun, Nov 17 | Equivalent Last Year | Cumulative 2024 | Cumulative 2023 |
|---|---|---|---|---|
| Young Bulls | 2,070 | 2,134 | 93,553 | 102,378 |
| Bulls | 449 | 517 | 25,897 | 25,317 |
| Steers | 14,594 | 13,838 | 613,068 | 624,273 |
| Cows | 10,078 | 11,969 | 388,573 | 358,824 |
| Heifers | 12,369 | 10,537 | 455,802 | 433,705 |
| Total | 39,560 | 38,995 | 1,576,893 | 1,544,497 |
Most procurement staff reported no backlog of finished cattle this autumn, unlike previous years where schedules were full weeks in advance. They are now sourcing cattle earlier than planned.
Future Outlook
Bord Bia forecasts a tightening in beef kill numbers in the short term. Demand for beef from key export markets is expected to remain strong.
In 2025, Bord Bia anticipates a decrease of 46,000 in prime cattle and 10,000 in cow numbers. The overall kill for the year is projected to be around 1.69 million, which is 4% lower than in 2024.
Market sources expect that supplies of prime cattle will remain below demand levels into the first quarter of 2025.