Farmers “should ignore the negative propaganda from factories and their agents” when it comes to beef price, the Irish Farmers’ Association (IFA) has said, claiming that agents are “intent on trying to undermine the market”.

Commenting on the matter of beef price, IFA Livestock Committee chairman Brendan Golden noted that supplies of cattle for the remainder of the year are predicted by Bord Bia to be back up to 40,000 head compared to last year.

“In our main market – the UK – supplies are running below last year’s levels by 5%. This is forecast to continue for the year,” he said.

Continuing, Golden said GB prices have “strengthened consistently” since mid-May with EU young bull prices also edging upwards, highlighting the demand for beef in our main markets.

The chairman said the latest Prime Irish Composite price is €4.23/kg, compared to the EU Prime Export Benchmark price of €4.06/kg, with the Export Benchmark Price increasing by 3c/kg on the week.

Golden claimed: “Factories know supplies will be extremely tight for the year.

“Demand for Irish beef will be strong and prices must reflect this favourable market situation.”

He said despite lower quotes in some factories, steers are making €4.20/kg with heifers making up to €4.25/kg base prices. Demand for young bulls is steady with prices ranging from €4.10 to €4.30/kg for R and U grades.

Noting that cow prices are steady, Golden said: “P grades are making up to €3.60/kg in most factories with O grades generally coming in at €3.70/kg and R and U grades making €3.80 to €4.00/kg.”

“Grass supplies are good, cattle are performing well and cattle should only be moved as they become fit to ensure farmers keep control of the supply/demand balance,” the IFA livestock chairman concluded.