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Factories are now offering up to 10c/kg over quoted prices on finished cattle to secure deals as supply tightens, IFA national livestock chair Brendan Golden has said.
Golden explained: “The flow of finished cattle has tightened dramatically with factories and agents chasing hard to get stock. Top base prices of €3.80/kg is being paid for in-spec stock. The range on the base price is €3.70-3.75 on steers and €3.70-3.80/kg on heifers.
“With an abundance of grass, excellent thrive and rising prices, farmers are back in control, demanding higher prices and in no rush to sell. Based on the major increase in price returns from the UK, there is room for factories to increase prices a lot more.“
Finished cattle numbers will be tighter over the coming weeks and months
The latest data from the UK shows that cattle prices have increased dramatically over the last two months of May and June, up by the equivalent of almost 40c/kg.
“The Department of Agriculture official figures on cattle supplies from the AIMS data show that beef cattle numbers on farms on 1 May are down 93,000 head compared to last year. This reduction means finished cattle numbers will be tighter over the coming weeks and months,“ Golden concluded.
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