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Beef prices must push on and continue to keep pace with the price reported in Ireland’s main markets, the IFA has said.
IFA livestock chair Brendan Golden said beef prices remain steady at €3.80 to €3.85kg for bullocks, and €3.85 to €3.90kg for heifers, with higher deals for larger and specialist lots.
He said Irish prices were just about keeping pace with the prime export composite price, which reflects market conditions in the sector’s main markets.
“The prime Irish composite price is currently reported at €3.73/kg (excl VAT) which is 3c above the prime export benchmark price of €3.70/kg and must continue to push on,” he said.
Break even
Golden pointed out prices were still a long way from the break even price of €4.50/kg, according to Teagasc.
Market conditions are strong, underpinned by high volume and value of sales of beef in supermarkets, and tight supplies of finished cattle, he said.
“Projections are for 80,000 fewer cattle to be available for slaughter this year compared to 2020.
“When the strong performance of beef in supermarkets is factored in, where both volume and price have shown huge growth, this creates a positive market environment that must be reflected in beef prices to farmers.”
Cows and bulls
Rounding out the price report, he said cow prices are currently starting at €3/kg for P grades and moving up to €3.50/kg for good quality R/U grading cows. O grades were making €3.10 to €3.30/kg.
R/U grading young bulls were making €3.75 to €3.95/kg.
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