The price of beef has strengthened this week as there appears to be a stronger demand for Irish beef. This indicates an increase in market demand. Farmers have since been advised to be assertive when selling finished cattle. Beef processors have since increased the cattle price to 10c/kg.
The midweek increase for heifers is trading sees beef trading at €4.50/kg-€4.55/kg, while steers are trading at €4.45/kg-€4.50/kg. The recent increase in factory quotes has been attributed to the demand from many export markets, particularly the UK market.
The rise in factory quotes sets the price for available R-grade Angus heifers and R+ Angus bullocks at €5/kg with carcass weights ranging between 300-380kg at Foyle Meats. It’s understood that the price for O-grade cows is now €4/kg with a carcass weight of between 300kg and 400kg, while the price for P-grade cows is at €3.90/kg.
Regarding under-24 month bulls and R-grade bulls with a carcass weight of between 320 and 400kg it’s been reported that the price is at €4.55/kg, with U-grade bulls in same weight bracket making €4.65/kg.
Beef prices are showing all the signs of strengthening against the backdrop of a strong weekly supply of finished cattle. The current market has led to calls that farmers’ sell hard in order to ensure that secure the hard earned cash when selling finished cattle.
LSL News.