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Factories have cut beef prices further. At the start of the week they were paying €3.85/kg for steers and €3.95 for heifers.
By midweek, after heavy rain and with an increase in supplies, they cut another 5c/kg off steer and heifers.
Farmers who escaped rain, or with drier ground are in the best position to resist these cuts.
Bull prices are facing the same price pressure as steers and heifers. R grade bulls are selling in small numbers from €3.80/kg €3.85/kg. U grade bulls are selling from €3.90/kg to €3.95/kg, with specialist finishers having the best success in negotiations.
The factories say sterling weakness is a factor in the price cuts. However demand for beef in export markets remains strong overall, with no backlog in getting cattle killed and plants generally accepting cattle after a couple of days of booking.
The reopening of schools will give a further lift to demand.
IFA president Joe Healy has written to Minister for Agriculture Michael Creed seeking an urgent meeting on the issue as prices have been cut by over €100/head in the last month, eroding any chance of profit for farmers.
“Minister Creed and his officials have worked hard and made considerable progress on market access issues and interaction with UK retailers,” he said.
“The Minister cannot allow the factories to undermine the value of this work with opportunistic beef price cuts.”
Live exports
Two cattle boats are docked at Irish ports and will load later this week with Irish bulls bound for Turkey. Purcell Brothers are planning to load over 3,000 head at Waterford and John Hallissey will load over 1,800 head at Foynes.
The cattle are scheduled to arrive in Turkey around 5 September after the conclusion of the Eid al-Adha Muslim festival, during which Turkey has a national celebration.
Beef trends: weekly kill up 3,260 head
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