Beef price update: prices static while BEAM opens for applications

The week has started with no change in beef price, while processing activity has returned to normal levels after last week’s flush of cattle.

Some agents are actually reporting that they envisaged there would have been a greater backlog of cattle after the protests, but this does not appear to be the case.

Prices

Steers are trading on average at a base of €3.50/kg, with some plants continuing to try to purchase at a 5c/kg lower price.

The majority of heifers are trading on a base of €3.55/kg, with small numbers trading at the top of the market moving on a base of €3.60/kg.

Bulls

Bull prices are also unchanged, with a 5c/kg to 10c/kg differential persisting between producers with very little negotiating power and specialist finishers.

Bulls less than 16 months and trading on the grid are trading on average from €3.40/kg to €3.45/kg.

Throughput of these animals is getting tighter every week.

Bulls aged over 16 months but less than 24 months continue to average €3.45/kg to €3.50/kg, while U grades range from €3.50/kg to €3.60/kg.

O grading bulls range anywhere in price from €3.20/kg to €3.35/kg, with overage Friesians, in some cases, selling back to €3.00/kg or even lower for poor-quality types.

The Department of Agriculture opened the Beef Exceptional Aid Measure (BEAM) scheme on Monday 19 August.

The scheme offers eligible herds compensation of €100 per animal slaughtered over 12 months of age in the period 24 September 2018 to 12 May 2019, subject to a maximum of 100 head of stock.

While female animals of a beef breed with progeny born in the year 2018 and which were sired by a beef breed bull are eligible to payment at a rate of €40 per animal, subject to a maximum of 40 such animals per eligible herd.

It should be stressed that the payment is dependent on a reduction of bovine livestock manure nitrogen by 5% for the period 1 July 2020 to 30 June 2021, as compared with the period 1 July 2018 to 30 June 2019 as recorded on Department systems.

This is highlighted on the application page. Note, slurry exports are not reckonable as reduction.

Access

To gain access to the application portal, log into the Department’s agfood facility, click on the link ‘Exceptional Aid Measures’.

Then click on the ‘Applications’ link at the top left of the screen.

If you are eligible for the scheme, then a screen will appear that also tells you what your eligible number of animals to base payment on will be.

Once the application is completed, a screen acknowledging that the application has been successful will appear.

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