IFA Livestock Chairman Brendan Golden said cattle prices have strengthened again this week as supplies continue to tighten.
Last week’s kill dropped by a further 373 head to 36,464, with steers dropping by over 2,000 head on the week. Heifer and cow numbers were stronger.
“The continual tightening of supplies of in-spec cattle and strong market conditions are driving the trade as factories fill orders,” he said.
Factories are paying €3.70 to €3.75/kg for bullocks, €3.75 to €3.80/kg for heifers with some deals higher, including flat prices for selective lots.
Brendan Golden said the gap in the ‘Prime Export Benchmark’ price has only closed by 2c/kg with the Irish price currently 8c/kg below, clearly showing further capacity in the market place for stronger prices.
He said factories must reflect the market realities and farmers should sell hard to maximise returns in the current strong market conditions.
He said cow prices have also increased this week and are ranging from €2.90 to €3.40/kg depending on grade.