Beef Prices Rise With ‘Expected Supply Tight’

Beef prices rose this week, with “extremely tight” livestock supplies expected in the coming weeks, according to the Irish Farmers’ Association (IFA).

Brendan Golden, chairman of the association’s breeding committee, noted that prices “have gone up another 5 cents / kg this week.”

“Steers earn € 4.15 / kg to € 4.25 / kg; heifers gain € 4.20 / kg to € 4.30 / kg; and cows start at € 3.40 / kg for P grades with fixed prices for mixtures of Bones and Ps of € 3.60 / kg, and premium beef cows up to 3, 85 € / kg and more in certain cases ”, underlined Golden.

Meanwhile, young bulls range from € 4.15 / kg to € 4.30 / kg, he said.

“Demand is high and the numbers are extremely tight as demand from the catering sector improves across the EU,” said the IFA President for Livestock.

“Young bull prices have strengthened over the past week, reflecting the strengthening of the European beef market,” Golden said.

“Livestock supply is expected to be extremely tight over the next few months and as the summer seasonal demand leads to increased sales volume, factories need to maximize farmers’ income under favorable market conditions,” he said. urged.

According to Golden, the beef death last week was 28,804.

He continued, “With the steer and heifer killing 1,164 and 684 animals respectively, this highlights the extremely limited supplies of premium cattle available to the factories.

“Farmers should sell strong in a positive and strengthening market,” Golden concluded.

However, Golden’s comments come a week after the IFA raised concerns about the effects on the beef market resulting from a proposed trade deal between the UK and Australia.

Last Tuesday (June 15), IFA President Tim Cullinan said: “Trade deals between the UK and third countries have the potential to undermine what is a very important market for our beef exports. .

Last year, total beef exports amounted to € 1.9 billion, 44% of which went to the UK market, the IFA chairman noted.

“It is our most valuable market, in terms of volume and price. Any loss of storage space would be very damaging to our ranchers, who are in a low income sector, ”Cullinan warned.

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