TIGHTER CATTLE SUPPLIES BRINGS MORE BITE TO BEEF TRADE AS UK PRICES CONTINUE TO RISE – IFA

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TIGHTER CATTLE SUPPLIES BRINGS MORE BITE TO BEEF TRADE AS UK PRICES CONTINUE TO RISE – IFA
10 Aug 2016

TIGHTER CATTLE SUPPLIES BRINGS MORE BITE TO BEEF TRADE AS UK PRICES CONTINUE TO RISE – IFA

Cattle

IFA National Livestock Committee Chairman Angus Woods said tighter cattle supplies this week have seen more farmers negotiate 5c/kg above the quoted prices.

He said factories are finding it much more difficult to get adequate numbers of stock and many are paying a base of €3.85 for steers and €3.95 base for heifers. He said the trade is also being helped by very good grass growth and good thrive. He added that the better demand is also being reflected in the mart with more factory buyers around the ring for finished cattle.

Angus Woods said farmers needed to dig in hard on the price and demand more than the quotes. He said the reality is cattle numbers in the factory lairages are very scarce and agents and procurement managers are very anxious for stock. He said, “Agents have been told not to leave stock behind them.”

Angus Woods said cattle prices in our main export market in the UK continue to rise, up another 1p/kg last week. He said UK prices are now up 26p/kg since the end of April. He pointed out that UK cattle prices are up 13p/kg since the Brexit decision in late June. As of July 30th, the UK R3 steer price was €3.46/kg, which is equivalent to €4.30/kg.

On numbers, Angus Woods said the weekly kill was at 30,586, with the total kill running 26,203 ahead of last year’s levels.

Angus Woods said factories are also stronger for cows this week with more outlets paying €2.90/3.10 for P and O grade cows. Better cows are making €3.20/3.30.

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