After a slow climb on a weekly basis over the last five to six weeks to €3.75/kg, the beef price has steadied this week, with some processors trying to drop quotes by 5c/kg.

Much of the cattle processed early this week were bought the previous week at €3.70/kg to €3.75/kg.

Some processors, particularly towards the north of the country, are still holding prices at €3.75/kg for the rest of this week. Some are quoting less, but hard sellers are able to keep the price paid at €3.70/kg to €3.75/kg.

Quotes slip

Quotes for next week have slipped a little further to €3.65/kg for steers and €3.70/kg for heifers.

There is also some chat about bonuses slipping a little for Angus stock. However, 20c/kg Angus bonuses are still available with some processors, but more have moved to 15c/kg and as low as 10c/kg has been quoted for next week.

Young bulls are in very short supply and quotes have generally been tracking the steer base price, with some implementing a 5c reduction off the base.

This week’s quotes are €3.65/kg to €3.70/kg with payment on the grid.

That means a U= grading young bull is at €4/kg when all bonuses are paid.

Older bulls are working off €3.60/kg for R grading bulls and €3.70/kg for U grading bulls.

Plainer-quality bulls are in less demand, back at €3.40/kg to €3.50/kg.

Cows are still in demand, with very good appetite in the trade for processing beef for the food service trade.

Cows are a similar trade, with €3.00/kg to €3.10/kg being paid for O grading cows and €3.20/kg to €3.30/kg being paid for R grading cows.

Regular sellers and those with higher numbers are able to squeeze another 10c/kg out of the market when selling.

NI customers are still very active in marts for good-quality heavy cows, paying way over what they are worth to kill in southern factories.

Last week’s four-day week meant the kill dropped to 31,838 head. It’s still a massive kill for the first week of August and a sure sign that beef is in demand. Some plants killed last Saturday to keep production lines going.

The closure of Kildare Chilling will mean other processors will need to step in to fill orders as long as the factory remains closed. While factory sentiment might be negative, they are still eager for cattle and honouring arrangements made in the last few weeks.

IFA livestock chair Brendan Golden said that factory-fit cattle remained in tight supply and that farmers should bargain hard when selling stock.

NI comment

In Northern Ireland, there is little change in the beef trade, with processors holding base quotes on 366p/kg (€4.28/kg inc VAT) for U-3 grading animals.

With strong demand for fresh beef from the UK retail sector, prime steers are moving from 374p to 378p/kg (€4.38/kg to €4.42/kg), while in-spec heifers are making 380p/kg (€4.45p/kg).

Farmers report more is on offer for butcher-type animals.

Cows are generally steady with quotes remaining on 280p/kg (€3.28/kg) for R3 grading animals, but deals are running well ahead of this level.

UK market strong

The UK market, the most important market for Irish producers, continues to perform very well. The UK government’s “eat out to help out” initiative has been a success and underpinned demand from catering establishments.