Producers Maintain Drive in a Strong Beef Market

UK - The Ulster Farmers’ Union is urging beef producers to continue to press for higher prices for their finished cattle. The UFU says beef market conditions remain extremely good and producers should have the confidence to market their cattle strongly.
calendar icon 10 March 2008
clock icon 2 minute read

UFU Beef and Lamb Policy Chairman William Taylor, a beef finisher from Portrush, County Antrim, said: “Market conditions are very good for beef and we are urging producers to be strong sellers. Current slaughtering are 13% lower than last years levels and there is a similar scenario in the Republic of Ireland and GB. Our suckler cow numbers have also fallen dramatically, with 26,000 fewer beef cows on farms locally compared to a year ago. Clearly cattle supplies are tight”.

The UFU says a rising global price for beef is also helping market conditions. For example the Union highlights reports that Argentinian beef prices have risen by 10% since the beginning of the year; and in an attempt to curb rising domestic prices, the Argentinian Government has put further restrictions on exports. EU market supplies will also tighten as the full impact of the Brazilian beef ban takes effect in the next few weeks.

William Taylor said: “These are all very positive signals to farmers that higher prices are achievable. The currency market has also been very significant. The value of the Euro has reached an all time high against Sterling. When Sterling was strong we were repeatedly told that it was holding prices down. Now that Sterling is weak we should take full advantage because our produce is good value on the export market and currency rates are making imported products less attractive”.

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