Beef forum confirms downward pressure on prices
Published 26/07/2016 | 02:30
Another Beef forum has changed little for beef farmers, other than confirm that downward pressure on prices is likely to continue.
Bord Bia figures confirm that both Continental and Irish supplies are set to increase, with an extra 140,000 weanlings in the Irish pipeline alone.
Steer prices have fallen by 10pc over the last year, while the gap with British prices has halved to just 15c/kg.
However, Irish prices still maintain a significant premium over EU prices, with German, French and Spanish prices all 20-40c/kg lower.
A 25pc drop in live exports and little uptake on the Turkish market will also add to domestic cattle numbers over the coming 12 months.
However, it appears that the 44,000 drop in the number of 24-36 month stock may be just enough to keep weekly supplies to the factory close to the crucial 30,000 mark.
In addition, the move towards killing cattle at younger and lighter weights may soften the impact of the extra stock coming on-stream over the next two years.
The ICMSA's livestock spokesman, Michael Guinan said that prices have fallen by 37c/kg since July 2015, and by 18c/kg in 2016.