20 Jul 2016
MORE BITE TO BEEF TRADE – IFACattle
IFA National Livestock Chairman Angus Woods has said there is more bite in the beef trade this week with farmers strongly resisting the lower quoted prices from the meat factories and negotiating more.
He said with the good weather and farmers very busy at silage, combined with tight supplies, factories are having to pay 5 to 10c/kg over quotes to get cattle.
Angus Woods said the general run of prices is €3.85/kg base for steers and €3.95/kg base for heifers but farmers are getting €3.90 and €4.00/kg base in places this week.
Angus Woods said the first of the grass cattle are gone and prime finished cattle numbers remain tight. He said with good grass, cattle are thriving strongly at the moment.
Angus Woods said cattle prices in our main export market in the UK continue to rise with prices up 7p/9p/kg since the Brexit result in late June.
He said sterling also seems to have settled at 83.5p/€ and this is much improved from the original position post Brexit. He added with the UK R3 steer price at £3.39/kg, this is equivalent to a return of €4.27/kg including VAT.