26 Jan 2022

Room for further rise as beef prices increase

Room for further rise  as beef prices increase

IFA livestock chairperson, Brendan Golden, said beef prices have started to move upwards as factories struggle to secure supplies.

He said most farmers are now securing €4.20/kg for steers, with prices up to €4.30/kg offered for specialist lots. Most heifers are now moving at €4.25/kg, with up to €4.35/kg offered at the top end. Cull cows have steadied and are ranging from €3.50/kg to €4.00/kg depending on grade.

Mr Golden said prices in the UK have strengthened again and supplies are running 4% below 2020 levels, creating strong demand for Irish beef for the lucrative Christmas trade.

The IFA livestock chairperson said our beef prices are lagging 9c/kg behind the latest Prime Export Benchmark price and must push on.

“Cattle supplies are predicted to be extremely tight up to year end. Combined with the reduced volumes of beef in the UK and the low levels of South American imports in the EU market, this creates a very positive market environment for Irish beef which must be returned to farmers in strong price increases,” he said.

Mr Golden said farmers should dig in and sell hard. “Factories need cattle to fill the lucrative Christmas orders and must return the full value of the current strong market conditions,” he pointed out in conclusion.

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