Beef market report: Challenging times ahead for the Irish beef sector

Beef finishers are heading into a challenging period as the forces of price control merge to swing against their interest ahead of the peak season of the year for disposals.

Although the supply of stock remains slightly under the 30,000 head/week benchmark, the processors appear to be confident enough on the supply situation to further reduce the price to producers this week and turmoil on the world financial markets has led to a 5% change in the sterling/euro exchange rate, weakening the returns from the UK market.

The quoted base price for steers at the factories has been reduced to 400c/kg. While the reports from around the country suggest that many producers are ‘dealing hard’ to hold 405c/ kg their success rate is variable.