April 23, 2021 1:33 pm
Current beef market developments have seen Irish cattle prices strengthen considerably over recent weeks, according to Meat Industry Ireland (MII).
The group has made the comments following the latest Beef Market Taskforce meeting and admits there is a “gap” with UK beef prices.
According to MII, the Department of Agriculture, Food and the Marine’s (DAFM) reported prices for last week show R-grade prime cattle at €4.22/kg – representing a five-year high for this stage of the year.
MII adds that Bord Bia figures show that the Irish composite cattle price is on par with the Export Benchmark Price and “while there is a gap with UK prices, Irish price is actually 30c/kg ahead of the basket of EU member states that take some 45% of our overall beef exports”.
MEAT factories have hit back at claims that Irish farmers are not receiving the market value for beef exported to Britain, as a stand-off on cattle price gathers pace across the country.
While Irish base prices have hardened to €3.85/kg for bullocks and €3.90/kg for heifers, factories are struggling to secure supplies this week as bigger finishers hold out for €4/kg.
The differential in finished cattle prices between Britain and Ireland, which stands at over €1/kg or around €300/hd, continues to cause difficulties on the ground for meat factories, with finishers convinced that more can and will be paid for beef.