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The volume of sheepmeat produced in the first half of the 2021/2022 season fell to 256,000t, while export volumes also fell by 14% on the previous season.
The spring lamb trade has started relatively positively, with lambs averaging from €165 to €180 in marts, but the trade has been overshadowed by heavy cull ewes making €220 to €270 per head.
EU regulations are now significantly more stringent than the UK's, but under the Brexit withdrawal trade deal, the UK is entitled to export its animal products of beef, lamb and pigmeat to Europe.
The increase occurred despite export volumes reducing by 9% and was underpinned by the value of exports increasing by anywhere from 9% to 40% in key EU markets.
Bull beef systems have the potential to reduce emissions by over 30% yet have largely been ignored by Teagasc and the beef processors who continue to chase a reducing British market.
Beef prices in key markets for live exports of calves, store and finished cattle have finished the year running anywhere from 5% to 20% higher leading to greater confidence in beef finishing systems.