Irish beef prices have gradually increased over the last four to five weeks. Steer prices increased during this period by 15c/kg, with the latest average R3 steer price reported around €4.14/kg. Average EU prices have failed to record the same upward movement, with Irish beef prices moving back ahead of the EU average, running about 10c/kg higher.
Irish beef prices have gradually increased over the last four to five weeks. Steer prices increased during this period by 15c/kg, with the latest average R3 steer price reported around €4.14/kg.
Average EU prices have failed to record the same upward movement, with Irish beef prices moving back ahead of the EU average, running about 10c/kg higher.
Beef prices in Italy have eased by 10c/kg to 15c/kg recently, with R3 bull prices reported by Bord Bia at €4.10/kg including VAT, with U2 bulls at €4.22/kg.
French R3 young bulls are static since the start of the year at €3.93/kg including VAT, with U3 bulls at €4.10/kg.
German beef prices have reduced by 10c/kg in recent weeks and 20c/kg since the turn of the year, with R3 bulls averaging €3.89/kg.
Northern Ireland continues to close the gap with British beef prices. R3 steer prices are averaging around €4.40/kg to €4.45/kg, with British R4L prices averaging 5c/kg higher. This leaves the differential between Irish and British prices at 35c/kg to 40c/kg or €112 to €140 on a 350kg carcase.
Steady trade
The trade remains steady, with prices unchanged at last week’s levels. The majority of steers are selling on a base price of €4.05/kg with small numbers moving at the top of the market at €4.10/kg.
There is more scope for those with higher numbers of heifers on hand to exceed higher than the general base of €4.15/kg. Prices of 3c/kg to 5c/kg higher have been reported by some, while others have negotiated allowances on transport costs.
Relative to steers and heifers, Friesian steers and cows have achieved a good price lift in recent weeks. Flat-priced deals for quality assured O grading Friesians under 30 months of age range in general from €3.80/kg for O- animals to a top of €4.00/kg for large groups traded to plants most active for this type of stock.
Demand for cows remains very strong. O grading Friesians are selling mainly from €3.40/kg to €3.45/kg, with some top prices of €3.50/kg as reflected in the Department’s official price report tables.
P+3 grades are moving from €3.25/kg at the lower end of the market to €3.35/kg to €3.40/kg in plants more active in the cow market. A similar differential is evident for good-quality cows.
R grades are selling from €3.55/kg to €3.65/kg, with heavy fleshed cows rising to €3.70/kg in cow specialist plants.
Bulls are trading in the main at €4.00/kg for R grades and €4.10/kg for U grades, with some regular sellers securing 5/kg higher. Bulls less than 16 months and trading on the grid are selling on a base price of €4.05/kg.
Live exports
Live exports for the year to date, at 92,199 head for week ending 22 April, are running 38% above 2016 levels.
The lift is positive, but can be overemphasised when you look at previous years’ levels.
The five-year average trend for the same period is an exact match to 2017 export levels, but there is more optimism in the trade than this time last year, stemming from activity from Turkish and north African markets and continued demand in the Netherlands, Spain and Belgium for calves as the season nears an end.
The one area recording a reduction is exports to the North, where numbers exported for direct slaughter have reduced further from 6,209 in 2016 to 4,082 year-to-date in 2017.
Read more
Northern view: Prime cattle quotes increase to 354p/kg
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