More Positive Tone to Beef Market – IFA

IFA National Livestock Chairman Henry Burns said there was a more positive tone to the beef market this week and factories are having to pay 5c/kg over the quoted base price for steers of €3.95/kg to get stock. He said the improved weather and tightening supplies are lifting the trade with more farmers insisting on a base of €4.00/kg for steers and €4.10/kg for heifers.

With the IFA and MII meeting on the market situation this week, Henry Burns said there is a strong view among farmers and agents that numbers will continue to tighten. This is acknowledged by factories, with a number of them trying to tie down commitments on supplies with farmers from late October onwards. He said it is also backed up by the numbers on the AIMS data, which show that there are 100,000 fewer cattle in the 12 to 36 month age bracket available for slaughter, when compared with last year.

The IFA Livestock leader said the beef trade in the UK, our major export market had also turned positive with the AHDB reporting the R3 steer price at £3.47/kg, which is the equivalent to €5.00/kg. He said the AHDB have described “the balance of trade tipping into producer favour” and factories working to “keep a longer pipeline filled.”

Henry Burns said the official Department of Agriculture prices for week ending September 9th are also showing that prices are stabilising. He said the average R3 price for steers are at €4.09/kg and the average R3 heifer price is €4.23/kg, similar to the previous week’s level. He said the Department figures also show the both R grade and O grade cow prices have not changed at an average of €3.77 and €3.60/kg respectively. The Department report average young bull prices at