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There is somewhat of a stand-off in the beef trade at present.
Processors are intent on pulling prices, yet the bulk of supply is originating from larger finishers who are unwilling to accept a price cut.
Supplies are finely balanced and there continues to be multiple reports of regular finishers being asked to bring additional cattle for slaughter at short notice.
Where processors are trying to enforce lower prices, some cattle agents indicate they are losing animals to the live ring, where prices range from 260p to 280p/kg for prime cattle with higher levels of conformation.
At a kill-out of 58%, the live ring is returning a deadweight equivalent of 448p to 480p/kg, which is currently well ahead of the prices on offer at local processing plants.
On the opposite side, where farmers are resisting price cuts and refusing to sell direct for slaughter, some processors are maintaining throughput by importing slaughter-fit cattle from the Republic of Ireland.
Import figures
Last week saw the second-highest import figure for 2022, with 599 Irish cattle moving north for direct slaughter at local plants, of which 453 were prime animals, an increase of 182 on the previous week.
Base quotes are unchanged, with 420p to 424p/kg available on U-3 grading animals at the upper end of the market.
Steers are generally moving from 442p to 446p/kg and heifers are priced at similar levels. Young bulls are moving upwards from 436p/kg.
Last week, the average price paid across all steers and heifers fell by 2.6p to 429.84p/kg.
Prices plummeted by 7.7p to 441.4p/kg on U3 steers, with heifers at the same grade falling 3.7p to 444.8p/kg. Young bulls rose by 1.5p to average 439p/kg.
Cows
Prices on cull cows have also eased, with factory prices also lagging behind the live trade.
Quotes are unchanged at 375p/kg for R3 grading animals, although deals continue to run well ahead of this at 390p to 400p/kg.
NI sheep: lamb price hit with further cuts
Processing demand for lamb continues to ease and with plenty of lambs on offer, quotes are down 25p/kg to 530p/kg, making a lamb worth £111.30 at the 21kg weight limit.
Mart prices held steady on Monday, with Kilrea selling 680 lambs from 486p to 524p/kg, little changed on last week.
In Massereene, 799 lambs sold from 488p to 523p/kg for 20kg at £104.50, with 516p/kg paid for 22kg at £113.50. There was a big run at 23kg to 26kg making £115 to £118.
However, prices on Tuesday were back. In Saintfield, 790 lambs sold from 485p to 525p/kg, down 10p/kg on last week. Top price was £137 for 30kg, with £131 for 27kg. Lambs at 25kg made £117, with 24kg to £114. Lambs at 22kg sold to £110, with 21kg selling to £106.50.
In Rathfriland, there were 753 lambs sold from 460p to 532p/kg, with the sale average of 480p/kg down 20p/kg on the week.
At Ballymena on Wednesday, early lots at 24kg made £105 to £106, with 23kg also on £106. Lambs at 22kg made £100 and £101.50, with 21.5kg making £98 and £100. Lambs at 21kg made to £97.
Ewes
The trade in fat ewes has steadied. In Kilrea, the top price was £159.
In Massereene, top was £138 for Texels, £126 for Wensleydales, £120 for Suffolks, with £115 for Charolais and Mules. Blackface sold to £76.
In Saintfield, top price was £185, with others making £133 to £168. In Rathfriland, the top was £190.
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