There is no basis for pressure on cattle prices from the factories, IFA livestock chair Brendan Golden has said.
“Prices are rising strongly in our main export market in the UK and also across EU markets and the food service sector is coming back as the economy reopens,” he said.
Golden said there was no basis for factories to try to lower quoted beef prices, as all of the market facts were pointing in the opposite more positive direction.
Beef prices in the UK, our major export market, increased by 15p/kg in the last two weeks to 30 May, with steer prices now reported at £3.51/kg, which is equivalent to €4.16/kg including VAT. This is 35c/kg (€126 per head) over R3 Irish prices at €3.81/kg for the same week.EU prime cattle prices have also risen strongly in the last two weeks, with young bull prices up 7c/kg and heifer prices up 6c/kg to 31 May.The latest DAFM AIMs data on future cattle supplies shows that on 1 April there was a reduction of 103,000 in the number of beef cattle in the 12- to 24-month category, meaning that supplies over the next number of weeks and months will remain much tighter than 2019 levels.The latest retail consumption figures for Ireland from Kantar show continued and very strong growth on beef sales, up 17.4% for the last 12 weeks compared with 2019 levels. In the UK, AHDB retail data shows beef volume sales up 17.7% and value sales up 19.4% compared with 2019.Cow prices in the UK have risen rapidly over the three weeks to 31 May, up 26p/kg, with O+3 grade cows making £2.79/kg, equivalent to €3.30/kg including VAT and reflecting the extremely strong manufacturing demand and burger trade. Excuse
Golden said some factories are incorrectly using the excuse of the temporary closure of China as a means for price pressure.
However, the Minister and Department of Agriculture have made it clear that this is only a technicality and the market will re-open soon.
He said farmers should dig in hard with the meat plants and insist on more than the quoted price.
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There is no basis for pressure on cattle prices from the factories, IFA livestock chair Brendan Golden has said.
“Prices are rising strongly in our main export market in the UK and also across EU markets and the food service sector is coming back as the economy reopens,” he said.
Golden said there was no basis for factories to try to lower quoted beef prices, as all of the market facts were pointing in the opposite more positive direction.
Beef prices in the UK, our major export market, increased by 15p/kg in the last two weeks to 30 May, with steer prices now reported at £3.51/kg, which is equivalent to €4.16/kg including VAT. This is 35c/kg (€126 per head) over R3 Irish prices at €3.81/kg for the same week.EU prime cattle prices have also risen strongly in the last two weeks, with young bull prices up 7c/kg and heifer prices up 6c/kg to 31 May.The latest DAFM AIMs data on future cattle supplies shows that on 1 April there was a reduction of 103,000 in the number of beef cattle in the 12- to 24-month category, meaning that supplies over the next number of weeks and months will remain much tighter than 2019 levels.The latest retail consumption figures for Ireland from Kantar show continued and very strong growth on beef sales, up 17.4% for the last 12 weeks compared with 2019 levels. In the UK, AHDB retail data shows beef volume sales up 17.7% and value sales up 19.4% compared with 2019.Cow prices in the UK have risen rapidly over the three weeks to 31 May, up 26p/kg, with O+3 grade cows making £2.79/kg, equivalent to €3.30/kg including VAT and reflecting the extremely strong manufacturing demand and burger trade. Excuse
Golden said some factories are incorrectly using the excuse of the temporary closure of China as a means for price pressure.
However, the Minister and Department of Agriculture have made it clear that this is only a technicality and the market will re-open soon.
He said farmers should dig in hard with the meat plants and insist on more than the quoted price.
Read more
In pictures: new technology and new rules at Castlerea Mart
Creed flags risk of unspent money in ring-fenced eco schemes
Research shows methane from Irish cattle falls 79% using seaweed additive
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