IFA National Livestock Chairman Henry Burns has said the cattle trade was stronger this week. This has been driven by extremely tight supplies and factories not being able to get numbers they require for their kills. There has been a big jump in cattle prices in Britain and Northern Ireland has also had an affect, meaning farmers are demanding more.
Steers are making a base price of €4.30/kg and heifers are on €4.40/kg. Individual deals for full loads are negotiating higher prices. Bulls are also in strong demand, with full loads of R and U grades making up to €4.40/kg.
In Britain there was a big increase in prices with steers and heifers up 4p to 6p/kg last week. Bulls were also up 8p/kg. He said R4L steers were making £3.43/kg, equivalent to €5.00/kg.
Mr Henry said that the view in Britain is that prices have turned a real corner and will strengthen for the remainder of the year. In Northern Ireland the LMC are reporting prices up 14 to 15p/kg in the last week, which is an increase of over 20c/kg.