Beef prices are still “not acceptable”, despite a lift this week, according to the Irish Farmers Association (IFA). IFA livestock chair Brendan Golden noted that beef prices have increased by 5c/kg this week, on the back of tight supplies and strong market demand, but warned that prices are still lagging behind those elsewhere.
Beef prices are still “not acceptable”, despite a lift this week, according to the Irish Farmers Association (IFA).
IFA livestock chair Brendan Golden noted that beef prices have increased by 5c/kg this week, on the back of tight supplies and strong market demand, but warned that prices are still lagging behind those elsewhere.
He said that the prime Irish composite price lags 34c/kg behind the prime export benchmark price and that this price differential must be closed immediately.
Strengthening
Golden said prices in our key export markets are strengthening, creating favourable conditions for Irish beef, and factories must move forward with stronger beef prices that reflect current market conditions.
The IFA has called for farmers to receive a better beef price. \ Donal O' Leary
“Base prices for steers are now making from €4.60/kg to €4.70/kg, while heifers range from €4.65/kg to €4.75/kg. Young R/U bulls are making from €4.80/kg to €5.00/kg. The cow trade remains firm, with prices ranging from €3.80/kg to €4.40/kg.
“There are indications of tighter grass cattle supplies in the coming weeks due to poor weather conditions and demand is expected to increase from NI buyers for finished cattle as the year progresses,” he said.
‘Resist’
The IFA livestock chair encouraged farmers to “strongly resist any attempts by factories to buy cattle at lower quotes”.
He said they should instead consider the mart outlet, where prices for forward store and finished cattle are proving competitive with factory quotes.
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