Supplies of suitable finished cattle are tight on the ground. Despite attempts by factories to reduce quotes, demand is strong, said Brendan Golden, the Irish Farmers’ Association (IFA) Livestock Chairman Brendan Golden.
Golden said strong and stable beef prices in the coming months are vital as suckler and beef farmers deal with input cost increases that these farms do not have the capacity to absorb.
He said supplies are predicted to tighten further and improved demand for beef over the summer months should underpin the trade.
Beef price update 23 June, 2022
Steer base €5.10/5.20kg. Heifers €5.15/5.25kg. Higher deals and flat prices for larger and specialist lots. Y Bulls R/U €5.10/5.30kg. Cows €4.60/5.10kg.
Meanwhile, IFA Sheep Committee Chairman Kevin Comiskey said factories are reluctant to pass €7.90/kg for lambs for next week with prices from €7.70/kg to €7.90/kg the general run. He said cull ewe prices are holding firm with prices ranging from €4.00 to €4.30/kg.
Spring lamb numbers remain low on the ground and demand for sheep meat will increase as the Eid al Adha festival approaches on 9 July, 2022. Comiskey said lamb prices have come under pressure in the UK and to a lesser extent in France in recent days. These markets should improve with the increased demand for sheep meat for the upcoming festival.
Comiskey said factories must stand firm in the market place to maximise returns to sheep farmers through higher lamb prices to offset these costs.
Lamb price update 24 June, 2022
Hogget €6.50/7.00/kg. Spring lamb €7.60/7.90/kg. Weights to 21kg. Higher deals groups/larger lots. Ewes €4.00/4.40/kg.