Prices to Rise through Beef Shortage

A significant decrease in the overall kill, combined with less finished cattle being brought to market, has led to severe beef shortages according to the Irish Independent.

Industry sources are predicting that prices will remain strong for the medium term.

The collapse of the WTO talks in Geneva appears to have restored confidence in the sector, while farmers' unwillingness to feed meal, because of rising costs, has contributed to a scarcity of finished cattle, the Independent says.

Producers can expect to make 350-356c/kg for U grade cattle this week. R grades are commanding prices of 342-350c/kg, while 330-336c/kg is being paid for O grades.

Meanwhile, an added premium of 6c/kg is being paid for top quality stock, particularly in the north of the country where supplies are very scarce.

Factories are also doing individual deals with farmers in a bid to secure stock.

Brisk demand for cattle was reflected in stronger in a livelier mart trade where prices for cattle shot up by €15-20/hd.

The overall recovery in the trade equates to a 20pc increase on prices from this time last year.

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