Cattle Supplies Tighter as Beef Demand Remains Very Strong
IFA National Livestock Chairman Angus Woods said the beef trade is steady this week with the base price for steers at €3.80/kg and heifers making €3.90/kg. He said finished supplies are definitely tightening and demand remains very strong with some reports of top prices of €3.85 and €3.95/kg.
In our main export market, the UK, the ADHB are reporting the steer price (R3) at £3.83p/kg, which is equivalent to €4.59/kg including VAT. Angus Woods said cattle prices in the UK are running at 20p/kg above the same levels as this time last year and market demand is very strong. He said the change in the sterling exchange rate and the strong prices in the UK provide ample room for factories to increase prices back to famers here.
Angus Woods said to date this year the kill is up over 64,000 head and an additional 50,456 head have been exported live. He said this will leave numbers tighter in the weeks and months ahead.
The latest official Department of Agriculture average prices for week ending 17/9/2017 show that steers (R=3=) made an average of €3.91/kg or 8c/kg above last year’s levels. Heifers made €4.00/kg and U/R/O grade young bulls made €4.03/3.85/3.71/kg. In addition, cows made U/R/O/P+ made €3.60/3.50/3.30/3.25/kg. The cow price was 18c to 32c/kg above the same week last year reflecting the strong market and price return for manufacturing beef.