Farmers are digging in on selling cattle where factories are pushing for big cuts in prices. Good grass growth and persistent factory demand means that there is no rush to move cattle and, as a result, the majority of steers are selling at €4.10/kg, with heifers at €4.20/kg.
Farmers are digging in on selling cattle where factories are pushing for big cuts in prices. Good grass growth and persistent factory demand means that there is no rush to move cattle and, as a result, the majority of steers are selling at €4.10/kg, with heifers at €4.20/kg.
There are still reports of some people getting €4.25/kg for good in-spec heifers, but these are the exception.
It is the same with steers, with €4.15/kg being secured, but it seems like these are isolated examples.
At the other end of the scale, we have heard that factories have tried to buy steers at €4.05/kg, but very few sellers have accepted that price this week.
With good weather in place across Europe, the trade for steak meat and burgers has been above average.
It has been a particularly good year so far for beef sales and, unlike last year and the year before, factories are moving beef as they produce it and carrying no stock. The kill for last week reached 34,379 cattle, but such is the current demand for beef, factories are anxious to secure supplies.
Steak meat is in particular demand, as are burgers, but we have reports of some of the forequarter cuts that would be taken out of grinding are now heading this way as the demand for them has slipped, but the grinding beef market can accommodate them.
Currency is fluctuating between €1 = 87p to 88.5p over the past week, which makes Irish beef relatively expensive in the UK, but the market has now adjusted to these levels, with food inflation now a factor of life in the UK. It also makes it easier for the UK to trade parts of the carcase to the EU market, cows in particular.
Young bulls are also in demand though, with the going rate €4.05/kg on the grid for bulls under 16 months.
Older bulls are limited in supply, confined to specialist producers with specific arrangements with factories, and are getting €4.00/kg on R grades and €4.10 on U grades.
Friesian bulls are rare at present, but we heard of one batch being sold to the factory at €3.90/kg.
The cow trade is being shaped by how keen the factory is to buy and how many cows a farmer is offering.
A single cull cow at a factory not that interested in cows will get a poor price, but commercial quantities in factories that specialise in cows are trading well.
O grading cows can be as low as €3.25/kg up to €3.50/kg, while Ps are making €3.10/kg to €3.35 and quality R grading cows are making between €3.50/kg and €3.60/kg.
U grading cows are rare, but where they have been sold, €3.70/kg was indicated as the price. On cows, more than anything, it is essential to match the animals with a factory that is active in that business.
Britain and NI
The trade continues strong in Northern Ireland, with 358 cattle coming from the south last week, the largest weekly import this year. Reported prices for last week have crept up between 1p/kg and 3p/kg.
Factory quotes are running at £3.60/kg (€4.32/kg) to £3.64/kg (4.36/kg), but most farmers are selling at £3.66/kg (€4.38/kg) to £3.70/kg (€4.43/kg).
Cow prices in the north are steady at £2.75/kg (€3.29/kg) to £2.80/kg (€3.35/kg) for O3 cows, with R grading cows making £2.90/kg (€3.47/kg).
In Britain, prices continued to rise last week, with R4L steers making on average £3.74/kg (€4.48/kg), which is a lift of 4.4p/kg (5c/kg). Euro equivalent for sterling prices is calculated at €1 = 88p and includes 5% VAT.
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Northern view: Cattle quotes steady but demand holding firm
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