Farmers Resisting Beef Price Pressure – IFA

IFA National Livestock Chairman Angus Woods said farmers are strongly resisting unnecessary pressure from the factories this week on cattle prices.

 

He said the base price for steers is generally €4.00/kg with some deals at €4.05/kg and some factories trying to offer less. On heifers, he said the general base price is €4.10/kg but again some plants are attempting to quote less to frighten producers into selling.

 

Angus Woods said the latest market update from the UK is that cattle prices continue to rise with R3 steers at £3.78p/kg, which is the equivalent to €4.48/kg.

 

In addition, he said the official Department of Agriculture average reported prices paid by the factories for week ending July 23rd were €4.16/kg for R=3= steers and €4.27/kg for heifers.

 

Angus Woods said the mart trade remains firm with strong live export and farmer buying.

 

On numbers, he said the increase in the kill to-date, lower carcase weights and the increase in live exports, will leave cattle supplies tighter than anticipated for the second half of the year.