UK beef prices have risen again this week as supplies tighten, according to IFA Livestock Chairman Brendan Golden. Factory agents are very active on the ground and in marts, sourcing cattle as supplies of suitable cattle here, similar to the UK, ease.
He said despite attempts by factories to offer lower quotes, tight supplies, good market demand and strong resistance from farmers is returning paid prices of up to 15c/kg above quotes. He said the supply demand situation for beef in the UK and EU is very much in our favour as South American beef continues to be directed to the Chinese market, creating real opportunity for Irish beef in the key EU market.
Golden said strong beef prices in the coming weeks and months will be vital if factories want a consistent supply of cattle. Beef farmers cannot and will not make investments in beef production at the levels that are now required without firm commitments on strong beef prices that reflect the realities of costs we are incurring on our farms.
Beef brice update: 7 July, 2022
Steer base €4.90/5.05kg. Heifers €5.00/5.10kg. Higher deals and flat prices for larger and specialist lots. Y Bulls R/U €4.90