Could cattle prices break the €4/kg mark as supplies tighten
Beef prices are on the rise as cattle supplies around the country tighten and factory agents struggle to secure stock.
Reports suggest factories are now paying a base price of €3.90/3.95/kg for steers and €4.00/4.05 for heifers.
However, IFA National Livestock Chairman Angus Woods said factories are having to pay 5-10c/kg above quoted prices in order to get stock. In addition, he said the quoted prices have increased all round.
He said there are some reports of a base price of €4.10 being offered for quality heifers.
The IFA livestock leader said R and U grade bulls are making €4.00/kg. On cows, he said there is a significant jump in prices with P grade cows making up to €3.30/kg.
Beef industry sources conciede that we are entering a ‘tough’ period for beef processors.
“Demand for product is low which hits retail prices and yet farmgate beef prices are rising due to reduced supply of stock,” one source told FarmIreland.
Cattle supplies at Irish export meat plants for the week ending March 17 totalled almost 29,000 head which was on a par with the equivalent week in 2016.