ICSA beef chairperson, Edmund Graham, has said despite the slight increase in cattle prices this week, processors have more to give.
“The pressure is on the factories at the minute; markets are opening up and agents are competing for cattle. Reports are coming in that €3.70/kg is increasingly attainable for certain types of stock and with numbers still tight, the scope is there for farmers to look for that bit more on price. ICSA believes there is significantly more available," he said.
The beef chairperson pointed out that demand at retail level continues to rise and, with McDonalds and other restaurant chains gradually reopening, a further growth in demand is expected in the coming weeks.
“ICSA also understands that with some beef exports from Australia to China suspended temporarily, factories here are on the lookout for Chinese spec cattle to fill any possible void. These factors coupled with the squeeze on numbers gives us a fighting chance at a decent price, but we’ll still have to fight for it,” he added.