Beef Prices Rising as Supplies Tighten
IFA National Livestock Chairman Angus Woods said that cattle supply numbers have tightened considerably in the last few days with some factories out of cattle last Thursday/Friday and struggling to get adequate supplies for the kill this week.
Prices have kicked on with farmers insisting on price increases of up to 10c/kg.
Flat prices of €4.00 and €4.05/kg have been paid for Angus stock. In addition , farmers are bargaining and getting flat prices on O grade stock and over 30 month cattle.
The base price on the QPS for steers has also moved up with €3.75/kg now more common and €3.85 for heifers. Cow prices have also kicked on by up to 10c/kg.
In the UK, the price has moved on with the AHDB reporting the R3 steer price up another 2p/kg at £3.63/kg, which is equivalent to €4.54/kg. With the increase in the British price and the exchange rate at less than 84p/€, there was significant scope for the factories to increase prices.
Against a more positive market background farmers should dig in hard and demand strong price increases from agents and factories. Farmers selling cattle out of sheds need a substantial price rise at this time.
