Impending tightening of Irish beef cattle supply expected

Published 2024년 8월 15일

Tridge summary

The article highlights the upcoming tightening of the Irish beef cattle supply by 2025, as indicated by current cattle population data, which is expected to have implications for the UK beef market. Hybu Cig Cymru-Meat Promotion Wales (HCC) notes that the solid consumer demand in the UK, coupled with the increasing price gap between GB and Irish steer deadweight prices, could make Irish beef more competitive within the UK market. This situation is further bolstered by Bord Bia's forecast of a 30-40,000 head decrease in the Irish cattle slaughter by 2024, contributing to a potential rise in UK cattle prices in the long term. The article also mentions that Irish cattle supplies have started to tighten, with steer and young bull supplies falling below last year's levels, and attempts by Irish beef processors to reduce price having minimal effect on cattle availability.

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

Original content

Current Irish “cattle population data suggests lower numbers of cattle of slaughter age towards the end of 2024 and into 2025” with an “impending tightening of [Irish beef cattle] supply” expected. This is according to Hybu Cig Cymru-Meat Promotion Wales’ (HCC’s) senior market intelligence and research and development officer, Elizabeth Swancott. In an update on the HCC website on Tuesday, August 13, the HCC officer said: “We are seeing a complex blend of factors influencing the beef marketplace in the first five months of this year.” She said that “solid consumer positivity” in the UK, coupled with limitations on supply “were likely to continue to help beef prices in the UK”. The report noted that of the 99,900t of beef imported to Great Britain (GB) this year, 77% came from Ireland, representing an 18% Irish product increase year-on-year for the first five months of 2024. Swancott outlined that GB steer deadweight price strengthened week-on-week throughout July but said that ...

Source: AgriLand