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Factories are struggling to fill orders on foot of their price pulls, the IFA said.
The IFA’s livestock chair Declan Hanrahan has questioned whether beef processor moves to pull prices have been made on the back of market decisions due to recent UK beef price increases and tightness in supplies.
The livestock chair advised farmers with finished cattle to strongly consider selling through marts, rather than direct to factories, given sustained strength at marts’ cattle sales.
A 7p/kg rise in UK beef prices over the past week up to the equivalent of €8.64/kg for R4L steers is evidence of continued strength in the UK’s beef markets, he said.
Hanrahan also stated that supply tightness justifies continued strength in factory beef prices, as Bord Bia anticipates a 87,000-head reduction in slaughter throughput for the year and with 25,000 more prime cattle killed this year compared to last.
The chair said that farmers have not fell for the “unjustified propaganda from factories” and that “very few finishers are accepting the lower quotes with deals available 10c to 20c/kg above quotes” for larger and specialist lots of cattle.
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The IFA’s livestock chair Declan Hanrahan has questioned whether beef processor moves to pull prices have been made on the back of market decisions due to recent UK beef price increases and tightness in supplies.
The livestock chair advised farmers with finished cattle to strongly consider selling through marts, rather than direct to factories, given sustained strength at marts’ cattle sales.
A 7p/kg rise in UK beef prices over the past week up to the equivalent of €8.64/kg for R4L steers is evidence of continued strength in the UK’s beef markets, he said.
Hanrahan also stated that supply tightness justifies continued strength in factory beef prices, as Bord Bia anticipates a 87,000-head reduction in slaughter throughput for the year and with 25,000 more prime cattle killed this year compared to last.
The chair said that farmers have not fell for the “unjustified propaganda from factories” and that “very few finishers are accepting the lower quotes with deals available 10c to 20c/kg above quotes” for larger and specialist lots of cattle.
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