Irish beef sector benefits from tight supply in export markets

Published Aug 27, 2021

Tridge summary

The article outlines the positive outlook for the Irish beef industry in the latter half of 2021, as highlighted by Brendan Golden, Livestock Chairman of the Irish Farmers' Association. The industry's optimism is rooted in tight supplies, strong farmer resistance maintaining prices, and good grass supplies allowing for selective cattle movement. Furthermore, the industry benefits from strengthening prices in key export markets, including the UK and the EU, which are expected to experience a decrease in supplies by 5% and 40,000 head, respectively, compared to 2021. These factors contribute to a favorable supply-demand balance and a promising market for Irish beef.
Disclaimer:The above summary was generated by Tridge's proprietary AI model for informational purposes.

Original content

Irish beef is well-positioned to have a perfect second half of the year. Irish Farmers' Association (IFA) Livestock Chairman Brendan Golden said tight supplies and strong farmer resistance have maintained beef prices this week, with some factories forced into increasing quotes to secure numbers. He said factories are paying €4.20/kg base price to get steers this week, with up to €4.25/kg available for heifers despite some lower quotes.The IFA Livestock Chairman said the supply-demand balance is very much in farmers' favour. With grass supplies good, cattle should only be moved as they become fit.He said prices in our key export markets – the UK and the EU – are strengthening. UK supplies are predicted to be back by 5% for the remainder of the year, which creates a positive market ...
Source: EuroMeat

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