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Factory demand for beef cattle is hitting a new high as buying begins for the Christmas trade.
Last week’s beef kill rose by a massive 5,441 head on the previous week and the annual kill is on track to be the highest in more than 10 years.
With demand ramping up, factories are being forced to increase prices paid to farmers.
This week, regular sellers and those with large numbers have already secured a base of €3.92/kg to €3.95/kg for heifers and €3.82/kg to €3.85/kg for steers.
However, IFA livestock chair Angus Woods said farmers are demanding a base price of €4/kg for cattle.
He reminded farmers that with factories trying to buy cattle out of sheds, now is the time for farmers to dig in for a substantial price increase.
The cattle kill to date this year is running 81,500 head ahead of the same time last year.
Demand at home is being bolstered by a thriving manufacturing trade and growth in exports outside of the eurozone.
Exports to Hong Kong have noticeably increased, with that country taking 2,935t of beef in September. Hong Kong took more Irish beef than Italy, Germany or Sweden.
The Philippines took 1,532t in September, bringing its total purchases of Irish beef to almost 16,000t so far this year.
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