Cattle prices rising amid ‘tighter supplies and stronger demand’

Cattle prices are rising on the back of tighter supplies and stronger market demand across the EU, according to the Irish Farmers’ Association (IFA).

Commenting on the latest market updates, IFA National Livestock Committee chairman Brendan Golden said the re-opening of burger and manufacturing outlets and an increase in live exports are combining to lift the trade.

“Factories have increased the base price for some steers and heifers by between 10c/kg to 15c/kg in places over the last week, with some finishers commanding a base price of €3.55/3.60/kg,” he said.

In general, the base price has moved from €3.40/kg for steers and heifers to €3.45/3.50/kg with some deals at €3.55/3.60/kg.

He said in-spec finished cattle are gone very tight and factories are having to pay more to get stock.

The chairman said cow prices are up 20c to 30c/kg in places.

“Last week some factories were offering as low as €2.50/kg for P and O-grade cows.

“This stock has achieved €2.70 and €2.80/kg in some plants this week with immediate purchase and slaughter, reflecting the strong demand from burger and manufacturing plants.”

The live trade has also driven on young bull prices, together with much tighter supplies, the chairman added.

R and U-grade bulls are making €3.50/3.60/kg, Golden said.