Beef prices have slipped across all categories of stock in the last week, but cows have taken the greatest hit.

Quotes have fallen by 15c/kg to 20c/kg, bringing the total drop in quotes to 40c/kg to 50c/kg in recent weeks.

On a per-head basis, this equates to €110 to €140 on lighter carcases averaging 280kg and as high as €150 to €190 on top-quality beef-bred cows averaging 380kg deadweight.

This week’s quotes range from €2.50/kg to €2.60/kg for P=/+ grading cows, while O grades range from €2.60/kg to €2.75/kg. The higher quotes are for O+ grading cows typically killing in excess of 300kg.

Department-reported prices for R grading cows ranged last week from €3.10/kg to €3.25/kg on average.

Quotes have now dropped below €3/kg, with many plants offering €2.80/kg to €2.90/kg, while regular sellers handling big numbers are, in some cases, negotiating higher.

The trade has been hardest hit by a collapse in the manufacturing and food service markets.

This is reflected in the collapse in demand for cows and top-quality heifers travelling north for direct slaughter.

This trading avenue has switched from taking about 300 head on a weekly basis to a handful of stock in the last two weeks.

The effect on the bull trade is being cushioned to a point by young bull throughput running over 40% lower than the same period in 2019.

Last week’s young bull kill was recorded at 2,783 head, which represents a marginal increase on the previous week, but a drop of 1,961 head on the corresponding week in 2019.

U grading bull quotes range this week from €3.45/kg to €3.50/kg, with some plants with little interest in bulls quoting back to €3.40/kg.

Likewise, R grading bull quotes range anywhere from €3.30/kg to €3.45/kg. Meanwhile, O grading bulls range from as low as €3.15/kg for plainer-quality types to €3.20/kg to €3.25/kg for better-quality fleshed O+ grading types.

Bulls less than 16 months and trading on the grid are being offered a base price of €3.40/kg to €3.50/kg.

The base quote for steers and heifers has also reduced by 10c/kg.

The general quote on offer is a base of €3.50/kg, with rare reports of 5c/kg extra being secured. Supplies are tightening in some areas, with last week’s kill falling 2,291 head to 35,607 head. This also remains inflated by calf throughput of 2,783 running 1,957 head above the corresponding week in 2019.

The collapse in the trade is leading to renewed calls for the European Commission to act quickly and move to support prices.

Meat Industry Ireland has joined farm organisations in this call and released a statement on Monday stating that factories are struggling to maintain throughput given the collapse in the food service market. IFA livestock chair Brendan Golden is calling on factories to stabilise prices

NI price pressure

The situation is no different in Northern Ireland, with plants pulling prices by 4p/kg to 6p/kg for this week.

This leaves U-3 base steer and heifer quotes averaging from £3.22/kg to £3.28/kg, with top prices rising to £3.32/kg.

Sterling has regained some lost ground in recent days. The sterling to euro exchange rate has increased by 3p/kg and on Wednesday stood at 89p to the euro.

This leaves Northern Ireland prices at the equivalent of €3.62/kg to €3.69/kg and €3.81/kg to €3.88/kg including VAT at 5.4%.

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NI trends: beef plants cut cattle quotes, hogget prices easing