IFA Demand Immediate Beef Price Increase

IFA National Livestock Committee Chairman Henry Burns said cattle feeders are demanding an immediate 10c/kg beef price increase and need a substantial price lift before Christmas. He said with most of the grass cattle gone, the feeding costs on shed cattle are much higher and prices have to rise.

Henry Burns said this week supplies of in spec cattle are very tight and there was evidence that some factories were having to increase prices to get stock. “Some of the big groups have paid a steer base of €4.05/kg and offered €4.10 for later in the week and into next week to get the numbers. The word to agents is, don’t leave in spec cattle behind.”

Against this background and with UK prices hardening again at the equivalent of €4.98/kg, there is a solid case that cattle prices can rise in the run up to Christmas. Henry Burns said cattle feeders need to dig in hard and insist on a price rise straight away.