Factories must start offsetting the costs of beef production by offering farmers better prices for their cows, according to the IFA.
IFA Livestock chairman Brendan Golden said decisions are being made on farms that will impact on cattle supplies for the coming months and it is critical that hard-won consistent weekly supply patterns are protected.
He said that more than 92,000 more cattle have been processed year to date against a Bord Bia projection of 110,00 to 120,000 more cattle in total for the year.
In addition, live exports of slaughter-fit and forward-store cattle to Northern Ireland are expected to increase in the latter part of the year. Golden said, “UK and EU prices are strong, with the latest prime export benchmark price 12c/kg above our price.”
He added, “The beef supply situation is well balanced with no overhang of beef in the marketplace.”
What’s more, farmers cannot be expected to take on the risks of beef production and costs associated with winter finishing without strong price commitments from factories.”
Beef price update as of 25 August, 2022
Steer base €4.80/4.90kg. Heifers €4.85/4.95kg. Higher deals and flat prices for larger and specialist lots. Y Bulls R/U €4.70/5.00kg. Cows €4.30/4.90kg.