Cattle Prices Rising but Not Fast Enough
IFA National Livestock Chairman Angus Woods has said that cattle prices are rising but not fast enough, and not in line with the price levels in our largest export market in the UK.
He called on finishers to demand more on price from the processors in order to make a viable margin from winter finishing.
Angus Woods said cattle prices in the UK have increased and R3 steers are now equivalent to €4.47 inclusive of VAT.
The IFA livestock leader said with the very late spring and few cattle gone to grass, there will be little or no grass cattle available until July. This will leave long feed shed cattle very scarce and expensive as the weeks progress.
In addition, Angus Woods said factory procurement managers have indicated that they expect finished cattle supplies to tighten considerably in the coming weeks. He said, “Procurement managers and agents are saying that, based on their usual supply lines, they don’t know where they are going to get finished cattle in 10 days to 2 weeks’ time and they expect prices will rise significantly.”
The IFA Livestock leader said some factories are talking to finishers and trying to get them to contract cattle for June/July.