ICMSA says factories anxious for cattle and expects quotes to increase

The reversing of price cuts, increased reluctance from farmers to reduce quotes and a slight rise in average prices paid weekly indicate that factories are anxious for cattle, chair of the Irish Creamery and Milk Suppliers Association (ICMSA) livestock committee Michael O’Connell has said. As the pressure has come off farmers to move cattle, the ICMSA chair predicted an increase in beef price as factories actively hunt for cattle. “Grass growth has resumed and a lot of the traditional breeds of cattle have been moved on before 30 months. It’s inevitable that cattle prices are going up and we need that sooner rather than later,” he said. Noting that it was in their own interests to "sort out" supply and give farmers encouragement to buy cattle for finishing, O’Connell cited the opportunity provided by the Brazilian ban. “Irish processors have opportunities to exploit EU markets which the Brazilian had in their sights. Declining herds all over Europe puts us in a great position to ...