28 Jul 2016
CATTLE PRICE PRESSURE NOT JUSTIFIED BASED ON UK PRICE INCREASES – IFACattle
IFA National Livestock Chairman Angus Woods has said the continuing pressure on cattle prices from the factories is not justified and contrasts with the continuing lift in cattle prices in our main export market, the UK.
He said, despite the spin from factories to farmers, the reality is cattle prices in the UK have increased by more than 13.5p/kg since Brexit and the real Sterling devaluation is only 7%.
Angus Woods pointed out that the UK R3 steer price has increased from £3.32/kg on June 19th to £3.45p/kg last week. He said, at the current exchange rate, this price is equivalent to a return of €4.34/kg.
The IFA livestock leader said there is also some evidence of under finished cattle being presented in factories, which make no sense with the strong grass supply available on farms. He said it is important farmers select their stock carefully for slaughter.