The rich list is one thing, factory quotes are another
MANY readers may, like myself, have sat down after Sunday dinner and perused the Sunday Independent's 'Rich List'. If you did, after half an hour your head would have been swirling from figures from the figures connected with farming and its performance in 2017.
- €12.6bn: the value of Irish food, drink and horticultural exports in 2017, up 13pc on 2016.
- €820m: Larry Goodman's wealth, up €40m in 2017.
- €295m: the estimated fortune of Peter and John Queally of Dawn Meats, up €25m.
And even that black pudding you may have had with your breakfast comes from an offal industry now valued at €230m per year.
By yesterday morning, however, the net worth of Irish beef farmers had declined as factory bosses pulled quotes back.
The figures that matter today are the €3.95-4.00/kg being quoted for bullocks and the €4.05-4.10/kg for heifers.
But while most factories will start the conversation at the lower end, those with cattle to sell should not be taking any less than €4.00/kg for bullocks and €4.10 for heifers.
On a more positive note, both cull cows and bulls appear to remaining fairly steady. Quotes for under 16-month bulls remain steady at an R grade base price of €4.00/kg.
Bulls under 24 months see little movement with Us on €4.10 and Rs on that afore mentioned €4.00/kg. The O grades are on €3.90/kg.
Some factory agents tell me where numbers of bulls are being offered, a 3:1 split of Us over Rs would probably command a flat €4.10/kg price.