The Ulster Farmers’ Union (UFU) is advising beef producers to consider all options before selling as beef prices have been increasing in recent months.
The steady growth saw the average price last week for U-3 grade steers hit 375p/kg, a 6p/kg rise on the previous week. U-3 grade heifer prices were also slightly stronger at 378p/kg.
Demand for cows had slowed slightly in previous weeks. Trade has steadied now with 280p/kg or more being given for quality cattle.
Strong competition for cattle
UFU beef and lamb chairman Sam Chesney said, “Competition for beef cattle is currently very strong and price increases have had a positive impact for suckler calf and store producers too which is very good to see.”
“We encourage our producers to explore all sale avenues before selling to ensure they get the best market return for their animals. Livestock market prices for heavy beef are in high demand as factories are keen to purchase cattle that are fit and ready for slaughter.”
“Margins for beef finishing will certainly be tight this winter as beef rations have edged upwards and store cattle prices have been higher.”