Beef price: A review of the erratic changes in 2022 in Ireland

Published 2022년 12월 31일

Tridge summary

2022 was a year of price fluctuations but overall, beef farmers in Ireland saw an increase in prices, with quotes reaching over €5.35/kg in May and recovering to €4.95/kg by the end of the year. The upward trend in cattle prices is expected to continue into 2023 due to predicted scarce supplies of finished cattle. However, the increase in prices did not fully compensate for the rising input costs such as feed, fertiliser, and energy for the farmers. The total cattle throughput is projected to increase by 8% in 2022, and the trend of younger and lighter cattle processing is expected to persist in 2023, further impacting beef production levels.

Disclaimer:The above summary was generated by Tridge's proprietary AI model for informational purposes.

Original content

Most beef farmers will look back on 2022 as a positive year overall for beef prices, despite significant price fluctuation throughout the year. Factory quotes opened in January 2022 at approximately €4.30/kg on the grid for heifers, with 5c/kg less being quoted for steers. Fast forward to the last week of May 2022 and factories were quoting as high as €5.35/kg and €5.40/kg on the grid for heifers. This marked an increase of over €1/kg in beef price in less than five months. Factory quotes then began to gradually decline and bottomed out at the start of November at €4.55/kg on the grid for bullocks (steers). Advertisement Coming into the end of December, factory quotes have bounced back to €4.95/kg on the grid with €5.00/kg and above on the grid being paid for steers and heifers in some cases. Early indications would suggest the upward cattle-price trajectory will continue into 2023 as supplies of finished cattle are predicted to be scarce, for the opening few quarter at least. ...

Source: AgriLand