IFA National Livestock Chairman Henry Burns has said the cattle trade is stronger this week, driven by extremely tight supplies and factories not being able to get numbers; a big jump in cattle prices in Britain and Northern Ireland; and, farmers demanding more.
He said steers are making a base price of €4.30 and heifers are on €4.40/kg. Individual deals for full loads are negotiating higher prices. Bulls are also in strong demand with full loads of R and U grades making up to €4.40/kg.
In Britain, Henry Burns said there was a big increase in prices with steers and heifers up 4p to 6p/kg last week. Bulls were also up 8p/kg. He said R4L steers were making £3.43/kg, equivalent to €5.00/kg.
He said the view in Britain is prices have turned a real corner and will strengthen for the remainder of the year. In Northern Ireland the LMC are reporting prices up 14 to 15p/kg in the last week, which is an increase of over 20c/kg.