Beef price rise as stock gets scarcer

THERE HAS been a marked increase in beef prices over recent days and ICSA Beef Chairman Sean Scully believes that further increases are on the way.

"I am confident, after talking to people involved in the beef industry in Northern Ireland and England, that there are more price improvements to be seen in the coming weeks", he says.

"Beef cattle are scarcer on the ground and factory agents are actively pursuing stock outside of their normal areas."

This week sees U grade bullocks making 325c/kg (£1.16/lb), R grades 319c/kg (£1.14/lb) and 308c/kg (£1.10/lb) for O grades. Factory heifers are trading at 325c/kg - 330c/kg (£1.16/lb - £1.18/lb). Good cows are making anything up to 291c/kg (£1.04/lb) and bulls are trading at 319c/kg - 325c/kg (£1.14/lb - £1.16/lb).

Mr Scully added that he was concerned at the variations in insurance costs being charged in different factories. "Some factories are charging up to €5 per head for insurance while others are charging €3", he said. "Perhaps someone could explain to farmers why there is such a difference."