Beef prices have risen 5c-10c/kg this week, driven by very tight supplies of in-spec cattle and strong UK market conditions.
That is according to IFA livestock chairman, Brendan Golden, who said €3.65/kg is “freely available” for bullocks.
Factories are offering €3.70/kg and above to secure numbers over the weekend, he explained.
Heifers are starting at a base of €3.70/kg, with €3.75/kg and above paid as factories fill orders for the Christmas trade.
Current beef quotes
“The cow trade also strengthened this week. Prices increased by a similar 5-10c/kg in some factories.”
“P grade cows are making from €2.70/€2.90/kg, O grades €2.80 to €3/kg, with good quality R/U grading cows pushing to €3.30/kg and above in some cases.”
Furthermore, the IFA livestock chairman said these increases are “just about keeping pace” with the price increases in the UK.
He said they must push on to reflect the full benefits of the current market conditions for beef farmers. The equivalent price for R4L steers in GB is €4.54/kg.
Golden said agents and factories are “very active” on the ground to secure cattle. He highlighted that numbers are expected to continue to tighten over the coming weeks.