The beef trade is caught in a downward spiral, with prices falling by a further 5c/kg this week. Steers are trading from a base of €3.50/kg to €3.55/kg, while the 10c/kg gap that had existed between steers and heifers has now closed to 5c/kg in some factories. This leaves heifers trading on a base of €3.55/kg to €3.60/kg, with some deals completed at the end of last week 5c/kg higher. There is also no respite for young bulls. A 10c/kg differential in base quotes has opened up in a selection of plants, with little appetite quoting a base of €3.40/kg, while the general trend is a base of €3.45/kg to €3.50/kg. Bulls aged over 16 months, but under 24 months, are trading from €3.40/kg to €3.45/kg for R-grades, with U-grades at €3.45/kg to €3.55/kg.
The beef trade is caught in a downward spiral, with prices falling by a further 5c/kg this week. Steers are trading from a base of €3.50/kg to €3.55/kg, while the 10c/kg gap that had existed between steers and heifers has now closed to 5c/kg in some factories. This leaves heifers trading on a base of €3.55/kg to €3.60/kg, with some deals completed at the end of last week 5c/kg higher.
There is also no respite for young bulls. A 10c/kg differential in base quotes has opened up in a selection of plants, with little appetite quoting a base of €3.40/kg, while the general trend is a base of €3.45/kg to €3.50/kg. Bulls aged over 16 months, but under 24 months, are trading from €3.40/kg to €3.45/kg for R-grades, with U-grades at €3.45/kg to €3.55/kg.
Challenges exist in securing this price for bulls deemed out-of-spec on weight, with factories operating a mixed upper weight limit ranging from 430kg to 450kg. O-grading bulls range from €3.30/kg to €3.35/kg for beef-sired O+ grading lots, with prices falling back to €3.20/kg for Friesian bulls. Overage bulls are facing the prospect of prices falling back to €3.00/kg and lower where offered in significant numbers.
The appetite for cows is actually pretty firm, with factories keen to handle numbers coming on stream. This is also reflected in the mart trade, which is bucking the trend of a sharp fall in prices. P+3-grading cows are being quoted a price of €2.70/kg in many plants, but up to €2.80/kg is being paid at the higher end of the market. Likewise, O-grading cows range from €2.80/kg for Friesian cows to €2.90/kg for better-quality beef-sired cows, while R-grades range from €2.90/kg to €3.10/kg.
Northern trade
The trade in the north is starting the week in a steady manner. Base U-3 quotes for steers and heifers range,on average, from £3.22/kg to £3.26/kg, or the equivalent of €3.59/kg to €3.64/kg at 89.9p to the euro and €3.78/kg to €3.83/kg, including VAT at 5.4%. There is a 2p/kg to 4p/kg swing outside this range, with top returns rising to £3.30/kg (€3.88/kg).
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