March 25, 2024

 

Signs of stabilisation for Irish beef prices as cattle supply starts to tighten

 

 

 

Following a few weeks of price cuts, Ireland's beef prices appear to have stabilised, as supplies of factory fit cattle are beginning to get tighter, Agriland reported on March 18.

 

In the week ending March 10, the average price paid for R=3= grade steers stood at €5.33/kg (US$5.80).

 

In the first week of February, the average price paid for the same spec of steer stood at €5.39/kg (US$5.86), according to Department of Agriculture, Food and the Marine (DAFM) figures.

 

While prices have began to stabilise, weekly supplies have started to drop off after a general increasing trend in the first two months of 2024.

 

Finished cattle numbers are expected to tighten further towards the end of March and into second quarter of the year.

 

Most processors will be operating four-day kills for three weeks as a result of the St. Patrick's Day bank holiday, Good Friday and Easter Monday all coming in three consecutive weeks.

 

Weekly supply numbers have been trending above last year despite Bord Bia projections that the overall beef kill will decline in Ireland this year.

 

As of March 10, a total of 353,507 head of cattle had been slaughtered this year, up 19,000 head on the same time period of 2023.

 

The overall number of bulls slaughtered this year has fallen with increases seen in all other cattle types.

 

The largest increase has been seen in the cow kill with a total of just under 91,000 cows processed to date this year, up 12,000 head on the same time period of last year.

 

- Agriland

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