IFA Livestock chairman Brendan Golden said tight supplies of suitable cattle and strengthening UK beef prices are underpinning the trade. Despite attempts by factories to offer lower quotes, strong resistance from farmers is returning paid beef prices of up to 15c/kg above quotes.
Golden said factories are paying €5.00 to €5.15/kg base price for steers and €5.05 to €5.20/kg for heifers with higher prices for larger and specialist lots. R- and U-grade young bulls are making €5.00 to €5.30/kg. Cow prices are firm, ranging from €4.60kg to €5.00/kg.
He said Bord Bia has again revised its slaughter figures for the year to be in the region of 100,000 more than last year. This will very much depend on decisions farmers take in feeding over the coming weeks and months for cattle supplies in the back end and early 2023.
He said it is critical beef prices remain strong and reflect the realities of production costs on farms if normal supply patterns are to be maintained. Beef farmers will not and cannot be expected to take on the risks associated with finishing cattle for the winter without firm commitments on strong beef prices.
Beef price update 30 June, 2022
Steer base €5.05/5.15kg. Heifers €5.10/5.20kg. Higher deals and flat prices for larger and specialist lots. Y bulls R/U €5.10/5.30Kg. Cows €4.60/5.10kg.