Farmers Should  Resist Lower Beef Price Quotes

IFA National Livestock Committee Chair Brendan Golden said tight supplies of suitable cattle and strengthening UK beef prices is underpinning the trade.

He said despite attempts by factories to offer lower quotes, strong resistance from farmers is returning paid prices of up to 15c/kg above quotes.

“Factories are paying €5.00 to €5.15/kg base price for steers and €5.05 to €5.20/kg for heifers with higher prices for larger and specialist lots. R and U grade young bulls are making €5.00 to €5.30/kg. Cow prices are firm ranging from €4.60kg to €5.00/kg,” Brendan Golden said.

The IFA National Livestock Committee Chair said Bord Bia have again revised their slaughter figures for the year to be in the region of 100,000 increase from last year. This will very much depend on decisions farmers take in feeding over the coming weeks and months for cattle supplies in the back end and early 2023.

“It is critical beef prices remain strong and reflect the realities of production costs on farms if normal supply patterns are to be maintained. Beef farmers will not and cannot be expected to take on the risks associated with finishing cattle for the winter without firm commitments on strong beef prices,” he added.

“Farmers should reject the lower quoted prices offered by factories. The supply demand situation for beef in the UK and EU is very much in our favour as South American beef continues to be directed to the Chinese market, creating real opportunity for Irish beef in the key EU market,” Brendan Golden concluded.

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