'Cattle prices will rise' as Egypt re-opens market

The IFA President Tom Parlon has said that the re-opening of Egypt’s markets to Irish beef is a major boost for the livestock sector here and will result in an immediate lift in cattle prices.

Mr Parlon said last year Egypt imported over 150,000 tonnes of beef from Ireland, worth up to IR£300,000.

He said with a very strong market demand from Britain, tightening cattle supplies and now the re-opening of the Egyptian market, cattle prices will rise off their current low base of IR£0.78-0.80 per pound.