Irish cattle price and beef market forecast for 2023

Published 2023년 1월 2일

Tridge summary

The beef market outlook for 2023 remains optimistic, with a decline in the EU beef herd and finished beef cattle numbers in key markets like France, Spain, Italy, and the Netherlands, leading to relatively tight supplies. This is expected to underlie a positive market environment for Irish exports. Despite an increase in beef supplies in the UK, the cost-of-living crisis and economic situation are expected to impact beef demand. Bord Bia and Teagasc forecast higher cattle prices in 2023, but direct costs of production are also expected to increase, potentially offsetting any increase in gross margins. Policy supports like the Suckler Carbon Efficiency Programme and the Agri-Climate Rural Environment Scheme (ACRES) could contribute to increases in farm income.

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

Original content

The beef market outlook for 2023 remains broadly optimistic but this optimism is “surrounded by a fair degree of uncertainty”. That’s according to Bord Bia’s Beef Sector manager Mark Zieg. Giving his analysis of how beef markets are looking for 2023, Zieg told Agriland: “The European Commission forecasts that the EU beef herd will decline further” in 2023. He outlined that a 0.8% decline has been forecast in the EU beef herd for next year and said “notable declines” in the number of finished beef cattle are forecast in many of Ireland’s key markets. Some of the key markets for Irish beef which a decline in supply has been forecast for 2023 are: France: 2% decline;Spain: 2.3% decline;Italy: 1.4% decline;The Netherlands: 0.8%. As a result of these declines, the Bord Bia beef sector manager believes “supplies of beef will be relatively tight and should underlay a positive market environment for Irish exports”. Advertisement The UK beef market Zieg said that the UK “expects to see a ...

Source: AgriLand