On the release of the beef price update on 2 June, 2022, IFA National Livestock chairman Brendan Golden said supplies of cattle are extremely tight with throughput dropping over the last two weeks by 3,700 to 32,098.
The kill to date has been very strong at 739,869, which is 81,619 head above last year’s levels with the increased figures for the year predicted by Bord Bia almost all through the system at this stage.
The biggest increase in throughput is in steers up 29,000. Cows are next at 26,000 and then heifers at 17,000.
He said the high level of throughput to date has left supplies of beef cattle on the ground extremely tight as is evident from the drop-off recorded in the past fortnight.
The IFA livestock chairman said this is leading to more intense competition between factories for cattle and ensuring beef prices continue to strengthen driven by demand from our key markets in the UK and EU. Golden said beef farmers have made significant investments in cattle for finishing for the end of this year and into 2023, and it is critical beef prices reflect the full extent of these costs.
Beef price update
Steer base €5.25/5.35kg. Heifers €5.30/5.40kg. Higher deals and flat prices for larger and specialist lots. Y bulls R/U €5.50/5.70Kg. Cows €4.70/5.30kg.
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