The IFA has urged farmers to resist lower beef prices this week (July 2022).
The appeal from its livestock chairman, Brendan Golden, following a move to pull prices over the last fortnight.
He said that despite this, tight supplies of suitable cattle and strengthening UK beef prices are underpinning the trade.
He reported that “strong” resistance from farmers is returning paid prices of up to 15c/kg above quotes.
Beef Prices July 2022
According to Golden, factories are paying €5.00 to €5.15/kg base price for steers and €5.05 to €5.20/kg for heifers, with plants putting “higher” prices on the table for larger and specialist lots.
Meanwhile, R and U-grade young bulls are making €5.00 to €5.30/kg.
On the other hand, cow prices are “firm”, ranging from €4.60/kg for P grades to €5.00/kg for U grade cull cows.
He pointed to Bord Bia, which has again revised its slaughter figures for the year to be in the region of 100,000 increase from last year.
Golden commented: “This will very much depend on decisions farmers take in feeding over the coming weeks and months for cattle supplies in the back end and early 2023.”
“It is critical beef prices remain strong and reflect the realities of production costs on farms if normal supply patterns are to be maintained.”
“Beef farmers will not and cannot be expected to take on the risks associated with finishing cattle for the winter without firm commitments on strong beef prices,” he outlined.
“Farmers should reject the lower quoted prices offered by factories. The supply-demand situation for beef in the UK and EU is very much in our favour.”
“South American beef continues to be directed to the Chinese market. This is creating a real opportunity for Irish beef in the key EU market,” Golden concluded.
According to the Department of Agriculture, Food and the Marine, the national beef kill stood at 32,487 head for the week commencing June 20th, 2022.
- Young bulls: 3,034;
- Bulls: 635;
- Steers: 11,329;
- Cows: 8,992;
- Heifers: 8,471.
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