Supplies continue to tighten with last week’s (12 June 2022) beef throughput down for the sixth consecutive week when bank holidays are considered. That’s according to IFA livestock chairman Brendan Golden, who said the weekly throughput has dropped by over 7,000 head since the end of April to just 30,112 (last week) with further reductions anticipated in the coming weeks. Numbers of finished cattle are just not on the ground.
Golden said, “The ongoing tightening of supplies and demand for beef in our key markets will drive the trade with no evidence of any weakening in the marketplace, particularly as we face into the summer festival season.”
He said there is a huge variance in prices paid by factories to farmers and in the prices available from factory agents in the marts. Farmers should shop around and sell hard to maintain control of the market. The IFA livestock chairman said the weakening of beef prices will not be tolerated by farmers given the broader market conditions and the extreme input cost inflation beef farmers are enduring.
Beef price update 16 June, 2022
Steer base €5.20/5.30kg. Heifers €5.25/5.35kg. Higher deals and flat prices for larger and specialist lots. Y bulls R/U €5.30/5.50kg. Cows €4.60/5.10kg.