IFA national livestock chair Angus Woods has said cattle supplies at the factories remain very scarce and both agents and procurement managers are anxious for stock. He said market demand is buoyant, with the UK market very strong and the World Cup likely to add to demand in the UK and across the EU over the next month.
IFA national livestock chair Angus Woods has said cattle supplies at the factories remain very scarce and both agents and procurement managers are anxious for stock.
He said market demand is buoyant, with the UK market very strong and the World Cup likely to add to demand in the UK and across the EU over the next month.
The IFA livestock leader said cattle supplies will remain tight for the next number of weeks and the forecast for the second half of 2018 is very similar to last year. He said figures from the Department of Agriculture AIMS data show that as of 1 April, male cattle numbers in the 12- to 24-month age category were down 25,000 head compared to last year, and in the 24- to 36-month age group they were up 23,000 head.
He said with the kill up over 20,000 head to date this year, a large number of this older group could already be sold. On the female beef cattle side, he said there was an additional 7,000 in the 24- to 36-month age group and an extra 21,000 in the 12- to 24-month age category.
Angus Woods said the potential for the live export trade to move more young bulls and heifers this year looks positive.
He said the recent EU Beef Forecast Group meeting in Brussels are predicting a more positive outlook on beef and have revised their figures to show a contraction in production for 2018 down 0.4%.
They have also forecast an increase in consumption by 0.3%. This is a positive turnaround for the sector. The EU is forecasting male bovines will increase in price by +1.3% and cow prices will increase by +3.8%.
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