Strong weanling sales hits export trade
The strength of farmer demand for weanlings at the mart sales has pushed live exporters "out of the market", with seasonal export sales slumping to the lowest level in more than a decade.
Live exporter, Hubert Maxwell said the prices are not "realistic" at the moment and export customers cannot meet the current rates being paid.
He predicts that the exports sales will continue to lose out this Autumn with lower beef prices in much of Europe, and prices would need to fall by up to €200/hd to resume strong live sales abroad.
Mr Maxwell said there is a market on the continent for the top continental bulls at up to €2.50-€2.60/kg.
However, he added that bulls cannot be purchased for that price at the moment.
Another live exporter confirmed slack sales to Europe, however, mentioned possible market opportunities in Tunisia later in the year.
Export sales for the first seven weeks of the seasonal trade from the start of July are down by 68pc on 2014, hitting their lowest for the period since 2004.
Official figures confirm that 1,249 weanlings were exported live in the seven weeks, compared to 3,883 in 2014.