The week ending 18 September 2020 saw big drop in numbers in the beef kill, down to 34,832 head from 36,326 the week before. Processors have dropped off kill days to manage supply as a result. Factories are getting more anxious for stock, but are still reluctant to increase quotes to get them.

In-spec heifers are top of the quotes this week, with most factories working off a €3.65/kg base for heifers.

I have heard of a few deals brokered at €3.70/kg where good numbers of heifer were involved.

Bullocks are being quoted at 5c/kg less at €3.60/kg, but deals are being done at €3.65/kg where bullocks and heifers are involved.

There is still good appetite in the trade for Hereford and Angus stock to fill retail orders and bonuses of between 10c/kg to 20c/kg are being paid on top of the in-spec bonus of 20c/kg.

Bull trade

Bulls are a similar trade this week with under-16-month bulls trading off €3.55/kg to €3.60/kg on the grid.

Older R grading bulls are at €3.50/kg to €3.55/kg, with U grades coming in on average 10c/kg higher at €3.60/kg to €3.65/kg.

Appetite for lesser grading bulls is poor, with €3.40/kg to €3.50/kg being quoted by some processors.

There’s still good appetite in the cow market, with P+3 cows trading at €2.95/kg to €3.05/kg.

O grading cows are generally moving at €3.05/kg to €3.10/kg, with good R and U grading cows trading for as high as €3.30/kg to €3.40/kg in some plants depending on numbers and quality.

Beef market tracking

Bord Bia’s beef market tracking graphs are now showing a clear difference between the prime export benchmark figure and the prime Irish composite price.

For the last number of weeks, the export benchmark has been rising, while the Irish price has been slipping.

This means that the main markets are tracking ahead, with the Irish price lagging behind.

Some disruptions are taking place due to COVID-19 issues in factories. However, nearly all processors have been able to shift cattle supplies to other locations with very little disruption for farmers in getting cattle killed.

Factory agents are still reported to be very active in marts buying factory-fit cattle.