Louth IFA sees cattle prices continue to rise

Louth IFA Livestock Chairman Peter McEneaney said cattle prices continue to rise with the base price of €4.20/kg for steers more common, and €4.30/kg for heifers.

He said this is reflected when the official Department of Agriculture average paid prices for week ending May 13th which shows that the average R=3= paid price for steers was €4.28/kg including all bonuses and €4.34/kg for heifers.

Mr McEneaney said grass cattle are a long way off and farmers with cattle on feed should talk directly to their agent or factory procurement manager and work out both the delivery terms and the price.

He said supplies are going to be very tight over the coming weeks and farmers should insist on full value for their stock.

The IFA livestock man said the beef price in our main export market to the UK continues to rise with the ADHB reporting that the UK price is currently 12p higher compared to year earlier levels.

The gap between 2018 prices and the five-year average has been widening since mid-March, and is still increasing, with prices now over 19p above the five-year average.

Industry reports suggest demand could stay ahead of supplies supporting the price through the summer, according to the ADHB.

Peter McEneaney said the R3 steer price in the UK is £3.75/kg, which is equivalent to €4.49/kg. Steer prices continued to gain and are up over 2p week-on-week.

Steer carcases meeting the R4L specification rose 2p on-the-week to reach 379.9p/kg, which is the equivalent of €4.55/kg. incl vat.