Over recent days, beef factory procurement managers have implemented some downward price pressure on base quotes – but have been met with firm opposition from farmers.
The Irish Farmers Association (IFA) National Livestock Committee chairman, Brendan Golden, has asked farmers to continue to bargain hard when it comes to marketing their animals.
“The market is strong and demand is good, with agents actively seeking animals,” he noted. “€3.65/kg to €3.70/kg is being paid out and farmers should continue to fight hard for price,” Golden added.
According to industry experts, this strong demand is set to continue. Despite this, some processors mainly in western and southern areas are trying to pull quotes, with 360c/kg on the table for steers and 365c/kg for heifers.
However, other plants are still at a straight price of 365c/kg for prime cattle.
In terms of cows, some beef processors have decreased quotes to 290c/kg for P-grading animals, with 300-305c/kg on offer for O-grading cows. Those cows falling into the R-grade category are at 310-320c/kg or higher in some plants.
Looking at bulls, firstly young bulls are being bought for 365c/kg on the grid, while under 24 month-old bulls are selling at 340c/kg for O-grades, 350c/kg for R-grades and 360c/kg for U-grading bulls.
UK trade
Golden also noted that UK prices have increased slightly this week and there is good demand in both Northern Ireland and the UK.