The Irish Farmers’ Association (IFA) has called on factories to keep pace with beef prices in Ireland’s key export markets.
It comes after the latest Bord Bia prime export benchmark price has strengthened again and has now opened a gap of 50c/kg with the prime Irish composite price.
In addition, UK beef prices are now over €1/kg above their Irish equivalents.
IFA livestock chair Declan Hanrahan said factories have to step up on their prices to secure continued supply.
“Strong demand and tight beef supplies here and across the EU are driving the trade in the primary markets we export into, but factories are failing to reflect the strength of these markets in prices paid to farmers.”
Demand
With Christmas shopping approaching in the coming weeks, demand for Irish beef is considered strong, according to the IFA.
“Factories are currently filling orders for these markets and with supplies of suitable in-spec cattle tight, prices must move on to reflect the full value of these markets to farmers,” added Hanrahan.
Up to €5.30/kg and €5.35/kg base price has been secured this week for steers and heifers.
However, he added that there is an up to 10c/kg difference between quoted prices and paid prices.
“The price factories are willing to pay is evident in marts where finished and store cattle are freely exceeding what they are offering in most cases.”