Beef farmers price rise to reflect currency markets

Beef producers should get an extra 15c/kg in returns from the UK market due to fluctuations in currency markets, said IFA livestock chairman, Angus Woods.

Mr Woods said there is a significant change in the cattle trade with much tighter supplies, a positive shift in sterling and very strong Christmas demand. He said the base price for steers and heifers has increased, with €3.70/3.75 for steers and €3.80/3.85 for heifers.

He said that Irish farmers are digging in and demanding more for their cattle, which in turn is leaving many factories with very tight numbers in lairages around the country.

He said the shift in sterling from 89p back to 86p/€ is worth an extra 15c/kg in returns from the UK market. He pointed out that the GB price is £3.61/kg, which is equivalent to €4.41/kg.

“With the positive change in sterling and the tighter supply, factories are in a strong position to pay more for cattle,” said Mr Woods.

“Demand for beef in the UK remains strong. We are in high-demand Christmas procurement period, trade has picked up.

"Prices must be restored to viable levels; factories must demand higher prices from their British retailer customers and pass these increases directly back to farmers.”


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