Strong Supermarket Performance Driving Beef Price

IFA Livestock Chairman Brendan Golden said prices have strengthened again this week, rising by 5c-10c/kg in some factories.

He said bullocks are making €3.80 to €3.85/kg, heifers are making €3.85 to €3.90/kg, with factories paying more for larger or specialist lots.

Cows are ranging from €3/kg for P grades to €3.50/kg for good R and U grades with flat deals for P and O grading cows of €3.10 to €3.20/kg available, Young Bulls are starting at €3.65/kg for O grades and moving up to €3.80/€3.90/kg for R and U grades in some factories.

Brendan Golden said the trade is underpinned by the continuing strong performance of the supermarket trade and tight supplies.

He said the latest 12-week supermarket sales data, up to the end of December, is reflecting the ongoing increase in both sales of beef and value of beef.

“Beef sales increased by 9.7% in volume and 2.8% in price, returning an increase of 12.8% in spend on beef compared to the same period in 2019,” he said.

The IFA Livestock Chairman said the Prime Export Benchmark Price has strengthened in the past week reflecting the market conditions in our key export markets. He said beef prices need to push on to reflect the positive market conditions that are prevailing.

Related Articles