High beef prices to continue

BEEF farmers can look forward to continuing high prices for the next couple of years, according to one of the world’s leading authorities on international trends.

Dr Joe Glauber, chief economist with the US Department of Agriculture, told the Agricultural Science Association annual conference in Maynooth, Co Kildare, that the beef herd in the US has been declining and is at its lowest level in 57 years.

“Because of drought in major beef producing states such as Texas and higher feed costs, there is no indication of any immediate recovery in the US beef herd,” he said.