Cattle Prices Rising with Stronger Trade – IFA

IFA National Livestock Chairman Henry Burns said the cattle price is stronger this week with prices increasing, very strong demand and tighter supplies.

He said the base price on steers is €4.30/kg with some factories offering €4.33 to €4.35 to get numbers. On heifers, he said the base price is €4.40, again with some factories offering more to get very scarce supplies. Bulls have also driven on in price with €4.35/4.40 being paid for R/U grades. Cows are also in strong demand with P and O grade making 380 and better quality O grades making €395, and Rs and U grades €410/415/kg.

Henry Burns said IFA met with the NFU Livestock representatives in Brussels last week and they are reporting supplies staying very tight for the rest of the year and a stronger trade. He said cattle prices in Britain continued to increase up another 5p to 6p/kg for week ending June 27th. R grade steers have now moved up to 353.6p/kg, which is equivalent to €5.15/kg incl vat. He said the continuing strength of sterling is leaving returns from our main export market in the UK very positive.

The IFA Livestock leader said factory agents are actively ringing farmers looking for stock. He said any attempts to buy cattle at lower quoted prices have failed over the weekend and there is now an acceptance they are going to have to pay more. In addition, they are moving outside their usual catchment areas to get numbers.

He said the recent Bord Bia figures forecasting a reduction in finished cattle supplies in excess of 100,000 head will leave supplies very tight throughout the summer and for the rest of 2015.