Tight Cattle Supplies and Increasing Demand
IFA National Livestock Chairman Angus Woods said cattle prices remain at a base of €3.80/3.85 for steers and €3.90/3.95/kg for heifers. He said pressure from factories is being resisted against a background of tight supplies and increasing demand.
Cattle prices in our main export market in Britain continue to rise strongly, up another 3.5p/kg in the last week.
Cattle prices in Britain have now risen by 40p/kg since May 1st this year. At the current exchange rate of 84.5p/€, this is equivalent to a price increase of 50c/kg including VAT. Angus Woods said the UK R3 steer price is no £3.60/kg, which is equivalent to €4.48/kg including VAT.