Beef market report: Beef processors set their sights on €4/kg or less

A drop in the supply of cattle to the factories last week has failed to halt the downward slide in prices being quoted for beef cattle.

Quoted prices have been reduced by a further 5 cents/kg for both steers and heifers, the second consecutive week in which the return to farmers has been hit.

Processors are offering a base of 410 cents/kg for steers. Reports from around the country indicate that most of the procurement managers and factory livestock agents are under instructions not to exceed the quoted price, and it’s only in exceptional cases that farmers are securing deals at higher prices.