Tight supplies and strong farmer resistance have maintained beef prices this week, according to IFA Livestock Committee chairman Brendan Golden.
The IFA chairman revealed that with grass supplies good, cattle should only be moved as they become fit, as the supply-demand balance is very much in farmers’ favour. He said factories are paying €4.20/kg base price for steers this week, with up to €4.25/kg for heifers despite some lower quotes.
Farmers should “ignore the unjustified negative commentary from some factories and their agents” and sell hard when cattle are fit to move to maintain control of the supply-demand balance, Mr Golden added.
Mr Golden confirmed prices in Ireland’s key exports markets – the UK and the EU – are strengthening. UK supplies are predicted to be back by five per cent for the remainder of the year.
“Supplies of finished cattle are estimated to be back 40,000 head for the remainder of the yeat compared to 2020. Factories know this and in a positive export market where reduced volumes of South American beef are available, this places Irish beef in a strong position,” he concluded.
LSL News.