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The beef trade is starting the week in a solid manner. Some agents say that producers who were under significant pressure in recent weeks to move stock due to drought conditions are anticipating a significant recovery in grass growth this week and are already under less pressure to keep cattle moving.
Factories also appear keen to maintain last week’s increase in throughput and are active in direct farm sales and also for suitable cattle in marts.
Northern demand
On the latter point, agents purchasing in marts are meeting increased opposition from Northern Irish buyers armed with stronger market prices and a growing price differential. Some mart managers comment that the introduction of online bidding has opened up greater opportunities for northern buyers to dip in and out of sales and cover more venues on the same day.
Price differential
Getting back to the dead trade, a significant differential remains in base prices paid for heifers and steers. Base quotes range in general from €3.55/kg to €3.60/kg, with regular sellers securing 5c/kg higher. The highest prices continue to be paid in the northwest, with prices reported for steers and heifers ticking all the boxes on carcase weight and QPS specifications selling to €3.70/kg to €3.75/kg. while all plants remain anxious for traditional breeds.
Bull trade
The young bull trade is also unchanged. The general run of prices is €3.50/kg to €3.55/kg for R grades and €3.60/kg to €3.65/kg for U grades. O grades are trading in a wider differential ranging anywhere from €3.30/kg to €3.45/kg with carcase grade, weight and fat cover having a major influence on price.
Young bulls under 16 months and trading on the grid are also meeting varied appetite with factories not interested in these animals quoting as low as €3.45/kg to €3.50/kg, while specialist producers are securing 5c/kg to 10c/kg higher. There has been a slight increase in stock bulls coming on to the market, which is not surprising at this time of the year. Prices quoted typically range from €2.50/kg to €2.60/kg, with agents handling higher numbers securing returns of €2.70/kg in cases.
As mentioned earlier, the cow trade has benefited in marts from interest from Northern Irish buyers. As such, this remains a good alternative outlet for farmers struggling to negotiate with factories. This appetite is also helping to steady the trade. P+3 grading cows remain at a range of €2.75/kg to €2.85/kg while O grades are moving from €2.90/kg to €3.00/kg. Good R grading cows are selling around the €3.10/kg mark with U grades at €3.20/kg to €3.25/kg. These are prices quoted for smaller numbers, with regular sellers capable of securing an extra 5c/kg to 10c/kg.
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