Beef Prices Continue to Edge Upwards
IFA Livestock Chairman Brendan Golden said beef prices continue to edge upwards on the back of tight supplies and strong factory demand.
He said base prices are starting at €4.30/kg for steers and €4.35/kg for heifers with another 5c to 10c/kg available for larger and specialist lots. R/U grading young bulls are making €4.20/kg to €4.40/kg.
Demand for processing beef is particularly strong, with cow prices ranging from €3.65/kg to €4.10/kg.
“Demand for beef in our key export markets – the UK and the EU – is strong, with the prime export benchmark price showing consistent growth since the beginning of the year. It’s now 3c/kg above our price,” he said.
Brendan Golden said numbers of slaughter fit cattle are tight. With live exports to NI performing strongly for forward store and finished cattle, factories are having to compete for supplies.
He said farmers should sell hard in these positive market conditions to match the price returns in our main markets.