Less than 18 months since Brexit and market demand for Irish beef continues to be strong. What’s more, the price of beef continues to strengthen. That’s despite more than half the Irish beef that originally went into the zone exiting the EU now going elsewhere.
In addition, beef supplies for the manufacturing and catering sectors remain strong albeit through what is traditionally the weakest demand period in a year.
That means processors have to pay more to ensure they have enough stock. Producers this week are paying at least EUR 5/kg. The trading base for the majority of steers ranges from 500-510 cents/kg, sometimes as high as 515 cents/kg. The situation for heifers is similar.
Young bulls are worth 10 cents/kg more than steers of equal grade. Meanwhile, suppliers are earning 500 cents/kg for R grade cows.
Mid-May, intake was up more than 6 000 head for the same period in 2021. Of the 35 797 head counted, 13 774 are steers, 10 048 are heifers, 8 003 are cows and 3 134 are young bulls.
Meanwhile, factory prices for steers are EUR 5.32/kg, heifers EUR 5.33/kg, cows EUR 4.65/kg, bulls EUR 4.69/kg and young bulls EUR 5.10/kg.
LSL Auctions, LSL News.