UK beef prices have increased by a further 2p/kg for the week ending Feb 8th, with R3 price at £3.40/kg, which is equivalent to €4.22/kg (including VAT).
On the back of this, IFA national livestock chairman, Brendan Golden, has said that with the continuing rise in the UK, factories can increase prices here “much faster” than is currently the case.
Speaking from a meeting of the IFA national livestock management committee this week, he pointed out that factory procurement managers and agents are “rapidly chasing cattle” and trying to negotiate deals to pin down tighter supplies in the weeks ahead.
“Base price offers of up to 30c/kg above current levels are being discussed.”
The IFA livestock leader said the mart trade is very strong for all types of stock with “very strong” prices being paid for forward-type cattle.
He said that some factory procurement managers were actively buying in the marts, "paying prices well above what they are prepared to offer on-farm".