The beef trade has taken another hit, with prices falling 5c/kg. The majority of steers and heifers are moving at the start of the week at a base of €3.80/kg and €3.90/kg respectively.

Demand is sluggish in some plants active in the cow or young bull trade, with agents pointing towards the potential of a further 5c/kg cut later in the week.

Prices

The cuts are translating to varying degrees across the young bull and cow trade.

Finishers who were securing a premium for bulls less than 16 months and traded on the grid have been moved back to a top price of €3.80/kg, while there are greater numbers moving at a base of €3.75/kg and some as low as €3.70/kg.

Plants are also stricter on their carcase weight limits, which are kicking in at 400kg in some plants, while there is leniency in others up to 430kg to 440kg carcase weight.

Heavy bulls are being paid off the grid in an increasing number of cases and being offered the general price of €3.70/kg to €3.75/kg for Rs and €3.80/kg for U grades.

O grading bulls range anywhere from €3.50/kg to €3.65/kg.

Cows

There is a growing differential between prices on offer for P+3 grading cows.

Average prices range from €2.90/kg to €2.95/kg, but there are quotes appearing as low as €2.80/kg to €2.85/kg.

O grades range on average from €3.05/kg to €3.15/kg, with R grades selling from €3.20/kg to €3.30/kg.

Northern quotes

Quotes in Northern plants have eased 2p/kg to 4p/kg.

There is also a growing differential in prices paid to sellers handling small numbers and those with greater negotiating power and trading at the higher end of the market.

U-3 base quotes range from as low as £3.24/kg, which is the equivalent of €3.62/kg at 89.4p to the euro and €3.82/kg including VAT, to £3.24/kg to £3.36/kg (€3.96/kg).

As is the case in southern plants, prices are running well behind 2018 levels.

Analysis by the LMC shows price cattle returns 14p/kg (16c/kg) lower year on year for May.

Cow prices for the same month were 40p/kg (45c/kg) lower.

The gap will be even greater for June, with prices strengthening in June 2018 and weakening significantly in June 2019.