IFA Criticises Crude Move to Pull Beef Prices

IFA National Livestock Chairman Angus Woods said farmers are very angry with the move by some factories to use weather difficulties to pull beef prices unnecessarily this week.

Angus Woods said this is seen as a crude move to take advantage of the weather difficulties experienced by some farmers and it is not based on the market with UK prices rising again last week by another 3.5p/kg.

Angus Woods pointed out that cattle prices in Britain have now risen by 40p/kg since May 1st this year. At the current exchange rate of 84.5p/€, this is equivalent to a price increase of 50c/kg including VAT. Angus Woods said the UK R3 steer price is no £3.60/kg, which is equivalent to €4.48/kg including VAT.

He said the majority of cattle are moving at a base of €3.80 for steers and €3.90/kg for heifers.