Factories have slashed cull cow quotes by up to 20c/kg over the past week.
IFA livestock chairman, Brendan Golden, has criticised the move adding that cuts are not justified in the marketplace.
“While cow prices have come under pressure in some markets, it is not of the level put forward by meat factories rowed back.”
In-spec quotes unchanged
Golden said market conditions are strong for in-spec cattle as the supermarket trade, which has performed strongly for beef throughout the COVID-19 restrictions, builds stocks for the lucrative Christmas trade.
Numbers of in-spec cattle are expected to tighten considerably over the coming weeks. “The anticipated tighter supplies of cattle in the UK should drive positive market conditions for Irish beef in our main export market.”
Prices for steers are continuing at €3.60/kg to €3.65/kg with heifers making €3.65/kg to €3.70/kg.
“Factories are anxious to secure in-spec cattle and must close the gap with the UK prices to reflect the market conditions that exist.”
Prices in the UK main export market are “strong and steady”. The VAT inclusive equivalent is €4.45/kg for R4L steers.