IFA National Livestock Chairman Angus Woods has said most steers are moving at a base of €3.80/kg and €3.90 base for heifers.
He said there is solid market demand, particularly from the UK, with factories shifting numbers and no back up of beef in the system. He added that the last kill figures for week ending Feb 5th was 34,214.
Angus Woods said UK prices continue in their strong position of with prices for R3 steers at £3.60/kg for week ending Feb 5th, which is equivalent to €4.34/kg, confirming the strong view that there is real potential for Irish factories to lift prices to winter finishers based on solid demand and UK market returns. Angus Woods said winter finishers desperately need a kick on in prices at this stage in the season and the factories needed to respond positively.
The IFA Livestock leader said the official Department of Agriculture prices for week ending Feb 5th show that the average price paid for R steers was €3.89/kg and for heifers was €4.01/kg. He pointed out that these prices included bonuses but are the average meaning that the factories actually paid more for half of the cattle purchased. He said the young bull prices were U3 €3.95/kg, R3 €3.80/kg and O3 €3.65/kg. Cows made €3.52/kg for Us, €3.43 for Rs, €3.17 for Os and €3.08 for P+s.
Official DAFM Beef Prices for w/e Feb 5th in c/kg including VAT