2024: A year like never before for Irish beef producers
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For beef producers, the year ending this week will be remembered as one that turned out to be like never before on prices, although with production difficulties for the finishers of cattle.
A very late spring was followed by harsh weather and poor thriving conditions for the early months of summer, the result of retarded grass growth. But the loss of performance during the first half of the year was more than compensated for on many of the farms with an excellent autumn for finishing cattle.
While average kill-out weights were down, it was more than compensated for by the surge in prices for beef animals for the later weeks of the year, over which the producer returns reached an all-time record.
The actual prices paid to producers, as compiled by the Department of Agriculture from the factory pay sheets, including all quality assurance and breed bonuses, showed 2024 was a positive year overall for producers.
The average R= steer price of 534c/kg in February increased to 543c/kg in April before dropping 20c/kg through the summer into autumn. From a low of 525c/kg being paid in September, the average price rose sharply, adding 12c/kg within a month and a further 24c/kg by mid to late November, with an additional 12c/kg to an average of 578c/kg—a new all-time record factory beef price—adding cream to the factory cheques during the run into Christmas.
It was a similar trend for the heifer trade from a late spring price of 549c/kg average being paid for R= before slipping back to an average of 529c/kg by August, before hitting 545c/kg in October to a year-end finish delivering an average of 587c/kg.
The trade for cows was strong throughout the year, with a steady upward price movement from a starting point of 394c/kg average for P= grade to 452c/kg paid in December.
Throughput at the factories for 2024 was up 29,000 head at 1,790,725 head. While the supply of steers was down for the year by 1.5%, the intake of heifers was up 5.6%, and there were 7.4% more cows killed, with some dairy herds reducing numbers adding to the intake.
The weekly intake at the factories peaked at 41,197 head for one week at the beginning of October.
There was a strong live export trade through the year, during which 361,765 head, an increase of 12.5%, were exported on the hoof. Although being down by 29.9% on 2023, the Netherlands remained the second-largest market for Irish exports at 78,691 head, while Spain remained the largest, purchasing 103,847 head, an increase of 42.1%.
Calf exports at almost 200,000 were down 3.8%, while a very strong export market for quality weanlings resulted in a 68% increase to almost 25,000 head, and stores were 58% higher than last year.
The number of finished cattle exported live increased by 11.5% to around 5,500.
