Ireland: IFA Livestock chair calls for sustained beef price rises

IFA Livestock chair Declan Hanrahan said beef price rises of 10c/kg over the past week must continue.

He said demand for beef in our key UK and EU markets is strong with supplies in these markets reducing for the year, creating real potential for strong and sustained growth in beef prices here.

EU beef production dropped 4% in 2023, with a further reduction of 1% projected for this year. UK beef supplies are predicted to tighten in particular for the second half of the year and into 2025 as figures show the numbers of cattle under 12 months of age to be down 3% year on year.

“These figures provide real opportunity for Bord Bia and meat factories to increase volumes and returns for Irish beef from these high value markets which must be returned to farmers,” he said.

Declan Hanrahan said the roll out of the PGI for Irish Grass Fed Beef on the Italian market must add further value to our beef exports and be returned in higher beef prices to farmers.

“Market conditions and supplies of beef cattle are pointing prices in only one direction and this upward momentum must continue in prices paid to farmers.”