Beef trade: Strong factory demand continues

Factory agents continue to actively source prime cattle, with general quotes hovering around the 370-375c/kg mark for steers and 375-380c/kg for heifers.

Saying that, more farmers are managing to achieve the higher price, with regular sellers in the best position.

Bull prices remain steady and are quoted at 360c/kg for R-grades and 370c/kg for U-grading types; O-grade bulls are hovering around the 350c/kg mark.

The cow trade continues to improve in terms of demand. P-grading cows are making 290-300c/kg, with O-grades hovering around the 310c/kg mark. In addition, R-grades are achieving 320-330c/kg in the beef factories.

Also Read: Beef kill falls and prices rise

Last week, IFA National Livestock Committee chairman Brendan Golden said:

“With an abundance of grass, excellent thrive and rising prices, farmers are back in control, demanding higher prices and in no rush to sell.

“Based on the major increase in price returns from our main export market [the UK], there is room for factories to increase prices a lot more,” he said.

The latest data from the UK shows that cattle prices have increased dramatically over the last two months of May and June, up by the equivalent of almost 40c/kg, the chairman noted, adding:

“The Department of Agriculture official figures on cattle supplies from the AIMS [Animal Identification and Movement System] data show that beef cattle numbers on farms on Friday, May 1, are down 93,000 head compared to last year.

“This reduction means finished cattle numbers will be tighter over the coming weeks and months,” Golden concluded.