Beef farmers urged to hold onto stock and reject factory price cuts

Farmers selling cattle should demand last week’s price and reject any price cuts from the factories, said IFA national livestock chairman Henry Burns.

Mr Burns said supply is very tight, demand is very strong and farmers should not part with cattle easily. Farmers very busy at silage and hay, under little pressure to move cattle, should hold onto their stock: “It is very clear from the lack of competition in the trade in the last two weeks, Minister Coveney needs to take immediate action on cattle prices and get more boats cleared for more live exports... Good progress has been made in reopening the Libyan market. We now need more boats and more exports.”

Mr Burns said with the beef price in Ireland’s main export market — the UK — very strong at €5.00/kg, the actions of the meat plants in pulling cattle prices is totally unjustified. He said the base price for steers is €4.35/kg with some factories quoting €4.30/kg. The base for heifers is €4.55/kg, again with some factories quoting €4.50/kg. Bulls are making €4.20/€4.30/kg with some prices of €4.35/kg paid. Cows are ranging from €3.20 to €3.90/kg.