Strong market sees beef prices rise

Marts: Beef prices are continuing to harden with a combination of favourable factors driving demand at the factories where intake is failing to match requirements for a strong market.

Quoted prices are generally increased by 3c/kg (1p/lb) at factories in the south and east of the country bringing the quotes closer to the midland factories where the gains appeared to be slightly easier yesterday.

Although the weekly intake of bullocks has gone over 21,000 head there has been no easing in the demand for cattle, with the factories still very anxious for all available supplies.

Most R grade cattle purchased in the south yesterday was at between 103p/lb and 104p/lb, with 104p/lb becoming the base price in the east. Up to 105p/lb was attainable in the midlands where some producers reported 106p/lb for choice lots.

The north-west is continuing to lead the country with reports of 107p-108p/lb.

Prices for O grade this week are ranging 100p-101p/lb with up to 103p/lb negotiated in direct deals with the factories.

Cattle supply is likely to ease off for the second half of the week as farmers divert their attention to the National and World Ploughing Championships at Tullow, Co Carlow.

The market has remained steady in Britain over the past week where prices have strengthened with the equivalent of 117p/lb (incl Vat) being paid for R grade bullocks.

The supply of Irish beef to the market has increased slightly as home production is showing a significant autumn decline. The supply of prime cattle fell by 12% in August compared to the same month last year, leading to a decline of 21,000 head. Cow prices are ranging up to 90p/lb for O/P grades and up to 95p/lb is being paid for quality R grade.