Increase in Retail Sales Must Lift Beef Prices – IFA

IFA Livestock Chair Declan Hanrahan said increased retail sales of beef in key markets in recent weeks must be returned to farmers in higher beef prices by factories. 

“The turnaround in beef sales in the important retail sector will be further supported by increased demand from food service over the summer period.”

He said positive market conditions must now be utilised by meat factories to take back control in the marketplace and increase prices to farmers. 

“The improved demand for beef in recent weeks is becoming evident on the ground as factories have again started ringing around looking for cattle,” he said.

Declan Hanrahan said supplies are very finely balanced and factories will have to increase prices to get the numbers they need to process in the coming weeks.

“Farmers should sell hard as factories are actively looking for cattle. Market demand is increasing and prices well above those quoted have been paid, particularly for larger and specialist lots,” he concluded.