IFA National Livestock Chairman Brendan Golden said factories are actively seeking in-spec cattle for the lucrative supermarket trade in the UK, with prices rising by 5c-10c/kg this week.
He said the supermarket trade has performed very well throughout the year for beef and demand is increasing in the lead in to Christmas.
“Supplies of in spec cattle in particular are predicted to tighten considerably over the coming weeks and this is very evident in the factories’ attempts to secure cattle to meet market demand,” he said.
Brendan Golden said the cattle price in the UK continues to rise and with domestic supplies also projected to tighten, market conditions justify better returns from factories. The UK price for R4L steers jumped 5c/kg to the vat inclusive equivalent of €4.57/kg in the past week.
He said factories must start reflecting the true value of our most important market to farmers.
Brendan Golden said farmers should dig in and sell hard. Deals well above quoted prices or flat deals for plainer Angus and Hereford cattle of up to €3.95/kg at this stage are available.
