IFA: Prices edges upwards, but more needed
Week For Base Steers Heifers Are Of 515c/kg This Prices And Available 510c/kg And
IFA Livestock Chair Declan Hanrahan said beef prices are edging upwards, but warned that more is needed from the market.
UK prices have also increased again in the past week and are currently over €1/kg above prices here.
Mr Hanrahan said the gap in beef prices with our key markets is not acceptable and must be closed immediately.
“Demand for beef is strong and will only increase further as supplies in the UK and EU are tight, contributing to the higher prices in these destinations,” he said.
Base prices of 510c/kg and 515c/kg for steers and heifers are available this week, and when pushed, factories are paying 5c/kg to 10c/kg above quotes to secure supplies. Cow prices have also increased, ranging from 440c/kg to 500c/kg, depending on the grade.
He said prices paid by factory agents in marts are frequently above what some factories are offering and are a credible alternative for farmers unable to secure the higher factory prices.
“The market justifies further increases in beef prices and factories must close the gap with the Bord Bia prime export benchmark price and align prices based on the strength of our key markets we are exporting into,” he added.
