Beef price increases as market demand returns

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IFA national livestock chairman Angus Woods said the beef trade is driving on, with factories paying more to get cattle to meet strong Christmas demand. He said factories are paying up to €3.90 base on steers and €4.00/kg base on heifers is much more common.

Angus said farmers with suitable stock should dig in hard and demand full value. He said, based on the strong UK market return and the increase in EU prices of 30c/kg from last year, further price increases are well-justified. “There is more in the price based on the market return and farmers need to dig it out,” he said.

According to Angus, there is very strong market demand with last week’s kill hitting 39,265 head. He said to date this year the kill is up over 80,000 head and over 30,000 bulls and heifers have been shipped to Turkey. In addition, carcass weights are down an average of 6kg equivalent to another 35,000 cattle. All of this means numbers have been processed and are gone.
 

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