UFU welcomes increase in bonus system for in-spec steers and heifers

Tuesday, 24 September, 2013

Ulster Farmers’ Union Beef and Lamb Chairman Robert Davidson has welcomed the news that some factories have amended their bonus systems for in-spec steers and heifers.   The 8p/kg in-spec bonus has been increased to 10p/kg with a further 4p/kg available for in-spec cattle that have resided on no more than four farms.  

Robert Davidson said; “The increase in beef prices over the past few weeks and the introduction of an amended bonus payment system will be welcomed by Northern Ireland beef farmers as they enter into the winter period.  Quoted prices for prime cattle have also risen to 364-366p/kg which is an increase from the 350p/kg being offered in August.  In addition, prime cattle supplies have remained tight as demand for cattle in Northern Ireland also increases.  This is clearly reflective of the improving market situation and the availability of cattle supplies.

“While this positive incentivisation and the improvement in market conditions are welcomed by beef producers my advice to them is to continue marketing their cattle strongly and look at all the options available to them. The option of exporting cattle to Great Britain continues to be a good alternative with the number of exports continuing to be strong and the price differential between Northern Ireland and Great Britain remaining at around 30p/kg.”