Ireland: Tighter Cattle Supplies Set to Boost Autumn Trade
Prime cattle supplies are set to tighten for the last quarter of this year and into early 2025, according to Bord Bia.
And while the cow kill is up 10pc for the year to date, an improving milk price and some improvement in grass supplies may see farmers holding back on culling cows and keep throughput levels behind those of the last quarter in 2023, it says.
It comes despite a surge in factory intake numbers over the last three weeks by around 5,000 culminating in last week’s kill being over 37,500.
Factories yesterday were standing firm on quotes of €5.00-5.05/kg for bullocks and €5.05-5.10/kg for heifers.
Helping to hold prices steady despite the sharp increase in numbers is the fact that beef exports for the first half of 2024 were valued at €1.3bn, a 1.3pc increase over the corresponding period last year.
This value increase has been driven by a 5pc increase in the volume of exports. Analysts predict that because Irish factory prices now lag behind both Britain and the EU, the possibility of further increases in both value and volume cannot be ruled out in the coming months.
Martin Coughlan | Irish Independent
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