Beef price update: factories maintaining lid on prices paid

The beef trade has started the week on a similar footing to last week. The majority of heifers are now trading on a base of €3.60/kg, with steers split on a base of €3.55/kg to €3.60/kg. There are odd reports of sellers trading at the top of the market securing an extra 2c/kg to 5c/kg for top-quality heifers.

Demand also remains strong for Angus and Hereford heifers. Flat-priced deals for O grading heifers range from €3.70/kg to €3.80/kg, with top prices in the northwest rising to €3.90/kg to €4.00/kg for heavy carcase heifers.

Subdued

The trade for R and U grading cows remains subdued in factories, with the mart a better outlet for young heavy-carcase cows.

Demand from northern buyers is particularly strong for this type of cow, with strong competition from buyers servicing the wholesale market.

R grading cows range from €3.00/kg to €3.10/kg, with U grades selling from €3.10/kg to €3.20/kg on average. Plants most active in the cow trade are, in cases, paying 5c/kg to 10c/kg higher to sellers handling large numbers.

P+3 grading cows continue to trade in a wide differential, ranging anywhere from €2.65/kg to €2.80/kg.

Meanwhile, O grading cows range in price from €2.75/kg to €2.95/kg, with a high percentage selling from €2.80/kg to €2.85/kg.

Bull trade

The bull trade is steady, with numbers reported as being tighter than recent years. This is likely to be the case in the coming months, with some producers and specialist finishers reducing the numbers they are handling.

U grading bulls range from €2.55/kg to €2.65/kg, with prices in cases rising 5c/kg higher when bonus payments are included for those producing to tight specification.

R grading bulls range from €3.45/kg to €3.55/kg on average, while O grades are moving from €3.20/kg to €3.35/kg. Bulls less than 16 months and trading on the grid are selling in general on a base of €3.55/kg, but are being offered a 5c/kg lower quote in cases.

Firm NI trade

The trade in Northern Ireland is solid, with the supply-demand balance still slightly favouring producers. Quotes for U-3 grading steers and heifers remain unchanged at £3.30/kg to £3.36/kg or the equivalent of €3.85/kg to €3.92/kg at Monday evening’s exchange rate of 85.7p to the euro and €4.06/kg to €4.13/kg including VAT at 5.4%.