Ireland: Beef prices continuing to riseStaff Writer | November 30, 2017
IFA President Joe Healy said beef prices are continuing to rise with factories actively looking for finished cattle this week.
Food trade Very strong market demand
Joe Healy said factories are prepared to pay well above quoted prices to get numbers. He said factories are offering a minimum base price of €3.90/kg on steers and €4.00/kg on heifers, with top prices of €4.05/kg paid.
Joe Healy said there is very strong market demand for fit cattle and finishers should maximise the opportunity to drive on prices. He said farmers are moving with the changing situation and are looking for a base of €4.00 on steers and €4.10 on heifers.
The IFA President said beef market prices are rising with UK prices up 2p/kg in the last week to the equivalent of €4.45/kg.
He said cattle prices in the main EU markets of Italy, France and Germany are also up 40c/kg on this time last year.
He said these are very substantial price increases in the big EU markets and show that there is major opportunity for Irish prices to rise further.
Joe Healy added that factories are very anxious for stock and are finding it extremely difficult to get numbers at the current low quoted prices. He said the kill to date this year is up 81,000 head, carcase weights are down an average of 6kg, accounting for another 35,000 cattle and an additional 40,000 weanlings have been shipped to Turkey in the last year.
He said all of this points to finished cattle numbers being a lot tighter than previously anticipated. ■