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ICSA urges beef farmers not to panic as factories cut prices

Jul 9, 2012 | Press Releases | 0 comments

9th July, 2012

The Irish Cattle and Sheep Farmers’ Association is expressing dismay at reports that factories are cutting prices for beef by around 10cent per kilo across the board.

ICSA beef committee chairman, Edmond Phelan says, “this equates to a reduction in the region of €40 per head for animals weighing in at 400kg.  The plainer, dairy-type bulls are coming under some pressure in particular.  I would advise farmers to bargain hard with the factories in the coming days – and also to avoid bringing underfinished cattle to the factories.  If your cattle need another few weeks before they’re fully finished I would urge you to consider holding on to them until they’re in prime condition, or bringing them to the mart where they’re more likely to reach the top price.”

Steers are today (9th July) making between €4.05/kg and €4.10/kg (back from €4.20-€4.25/kg last week), heifers are making between €4.15/kg and €4.20/kg (back from €4.30-€4.35/kg last week), while R&U grade bulls are making €4.10-€4.15/kg (compared to €4.20-€4.30/kg last week) and cows are between €3.40/kg and €3.80/kg, when they were making up to €4/kg last week.

“I would say this change in price is weather-related, given that farmers are more likely to want to sell in bad weather like we have at the moment.  We know that supplies are still tight, we’re not in a situation where factories are oversupplied but they will take every opportunity to cut prices so the bottom line is don’t panic, bargain hard, and consider all your options before bringing underfinished cattle to the factory,” concluded Mr. Phelan.

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