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Cattle prices are beginning to rise and are up by 5c/kg to 10c/kg in most factories, according to IFA livestock chair Brendan Golden.
Golden said while some factories continued to quote last week’s price, the base for steers was now €3.65/kg and up to €3.75/kg for heifers.
“Based on the major increase in price returns from our main export market in the UK, there is room for factories to increase prices a lot more,” Golden said.
“Most of the shed cattle are sold at this stage and the grass cattle are thriving well, with no pressure to sell because of the new burst of grass growth.”
The livestock chair said the tight supplies had left factories anxious for stock with agents told to “leave nothing behind”.
Tight supplies
Department of Agriculture AIMS data shows the number of beef cattle on farms on 1 May was down 93,000 head compared to 2019. Golden said this pointed to tighter numbers of finished cattle for the coming weeks and months.
Data from the UK also shows prices have increased dramatically and are up by almost 40c/kg, according to Golden.
“The latest R3 steer price for the UK for week ended 27 June is £3.67/kg, which is equivalent to €4.27/kg. This is 47c/kg above Irish prices and amounts to a price differential of €170 per head,” he concluded.
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