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Beef factories and agents ‘chasing hard’ to secure supplies

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Beef factories are offering up to 10c/kg over quoted prices to secure deals, according to IFA national livestock chairman, Brendan Golden.

He said the flow of finished cattle had tightened dramatically with factories and agents “chasing hard to get stock”.

He explained that a top base price of €3.80/kg is being paid for in-spec stock this week.

The base price for steers is ranging from €3.70-€3.75/kg, while heifers are standing between €3.70-3.80/kg.

‘Farmers are back in control’

 “With an abundance of grass, excellent thrive and rising prices, farmers are back in control, demanding higher prices and in no rush to sell.”

“Based on the major increase in price returns from our main export market (the UK), there is room for factories to increase prices a lot more.”

The latest data from the UK shows that cattle prices have increased dramatically over the last two months of May and June, up by the equivalent of almost 40c/kg, he added.

93,000 head fewer

Official figures from the AIMS show that beef cattle numbers on farms on May 1st are down 93,000 head compared to last year.

“This reduction means finished cattle numbers will be tighter over the coming weeks and months,” Golden concluded.

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