Mixed Fortunes of Global Beef Prices

The vagaries and disparity of global cattle and beef prices could be seen either side of the Atlantic this week.

In the US, the cattle producers and processors are basking in some of the higher=st cattle prices they have seen.

Liveweight fed cattle sold on a live weight bases at $169.67 per hundredweight, over $36 above a year ago according to Professors Ron Plain and Scott Brown, University of Missouri.

The 5 area average dressed price for steers gained $6.05 this week to $263.80/cwt. A year ago the dressed price averaged $207.80/cwt.

Boxed beef cutout values for choice carcases were $247.04/cwt, down $1.87 from last Friday but up $46.85 from a year ago.

The select cutout was $232.44/cwt, down $2.09 for the week, but $47.26 higher than last year.

However, in Ireland, beef producers held protests outside the grate of the processing plants angry that there was up to €350 per head difference between Irish and UK cattle prices.

IFA President, Eddie Downey, challenged the meat plants to explain their failure to pass back recent UK market price increases of over €100 per head.

He said for the past 12 months, the factories have hammered farmers with loss- making prices and specification cuts that have inflicted serious income damage on producers.

Current prices in the UK for R grade steers are running at the equivalent of €4.74/kg, which is €1/kg higher than the €3.73/kg Irish price.