The beef trade has continued its positive momentum gained in the last few weeks, with increased quotes on the table again this week.

Factories continue to scour the country looking for beef cattle. Some factories took a punt in late autumn that cattle that were housed in autumn lighter than other years would be coming on track for the first three months of 2024, but beef cattle remain very thin on the ground.

This has resulted in factories having to increase quotes once again in order to fill their weekly orders.

Bullocks are now moving off €5.05/kg to €5.10/kg, while heifers are moving at €5.10/kg to €5.15/kg, with the higher quote more easily achieved for heifers.

Bull trade

The bull trade also remains solid, with €5.25/kg being paid for U grading under-24-month bulls this week in some locations, up 5c/kg on last week’s quotes.

Those with numbers have also been able to squeeze €5.30/kg out of some processors.

R grading bulls are being quoted at €5.10/kg to €5.20/kg, with a little more going to regular suppliers and those with numbers.

O and P grading bulls are trading at 5c/kg to 10c/kg less than this.

Under-16-month bulls are generally working off base prices of €5.05/kg to €5.10/kg.

Cow prices

Well-fleshed P+3 cows continue to trade at €4.10/kg to €4.20/kg, depending on weight and quality.

O grading cows are working off €4.20/kg to €4.30/kg, depending on the processor, while good R grading cows are coming in at €4.30/kg to €4.40/kg.

U grading cows are being quoted at €4.50/kg to €4.60/kg. Young cows and good-quality fleshed suckler cows are being bought at higher prices than factories are quoting, with €4.80/kg paid for young once-calved heifers this week.

Factories are also very hungry for cows in marts this week, with any slaughter-fit or near slaughter-fit cows being bought by agents for next-day slaughter.

There is still a big gap between Irish prices and beef prices in Northern Ireland and across the water in Britain.

U3 bullocks and heifers are trading at £4.90/kg (€5.94/kg incl VAT) this week in NI, while U3 bullocks and heifers are trading as high as £5.10/kg (€6.19/kg incl VAT) in Britain.