Update on beef prices June 2021
Tight supplies and strong market demand have pushed cattle prices on in recent days.
That is according to IFA live chairman, Brendan Golden, who provided an update on trade over the weekend.
Beef prices June 2021
“Factories are actively seeking cattle, and base prices have moved on 5c/kg,” he reported.
“Steers are making €4.15/kg to €4.20/kg, with heifers making €4.20-€4.30/kg in some factories with higher deals for larger and specialist lots.”
Golden said shed cattle are gone through the system, and poor grass growth will delay grass cattle, further tightening available supplies.
He added that market conditions are strong as demand from the foodservice sector increases for the summer months, and more reopenings occur.
The IFA livestock chairman said imports to the EU market from Brazil are expected to be low this year as they focus on trying to fill the demand for beef in the Chinese market.
“This creates a very positive market environment for Irish beef in the key EU market where demand is expected to increase from the foodservice sector for the summer months,” he said.
Furthermore, Bord Bia predicts supplies of finished cattle to reduce up to 120,000 head this year.
“Farmers should sell hard as factories struggle to match supplies with market demand,” Golden concluded.
Factories ‘freely offering’ €7.60/kg for lambs
Factories are “freely offering” €7.60/kg and deals on transport to secure lambs.
That is according to Sean Dennehy, IFA sheep chairman, who said that there are higher deals available for larger numbers. He outlined that cull ewes are making €3.20-€3.50/kg.
“Supplies of suitable finished lambs are tight, and market conditions are strong,” he commented.
“Hogget supplies have significantly decreased in recent weeks, reducing the number of sheep available for slaughter.”
He pointed out that the kill to date is running 8% behind last year, and with the cold weather slowing lamb finish, the number of suitable lambs available remains low.