Strong market conditions must return higher beef prices - Mayo IFA

STRONG market conditions as we head into the key Christmas buying period must return higher beef prices for farmers, says Mayo IFA livestock rep Michael Mitchell, from the Balla IFA branch.

UK beef prices have increased by almost 50c/kg in the last six weeks to now sit 80c/kg above our price, driven by very tight supplies and strong demand for beef, rising over 8p/kg in the last two weeks alone.

Mr. Mitchell said the latest Bord Bia Prime Export Benchmark price is 20c/kg above our price, showing the capacity for further beef price increases here.

He said: “Against this backdrop of tight supplies in our key markets and very strong demand for beef heading into the lucrative Christmas trade, factories must follow suit and increase price offerings.”

He said the age-old tactic of agents trying to talk down prices was never more unjustified.

Farmers should sell hard and demand higher prices that reflect the reality of the marketplace.