There is more variation in the base price paid for cattle in the last few days.
Areas that received the worst of the weather in recent weeks remain under the most pressure, with some plants focused on trying to bring the steer base price back to €3.75/kg.
This is in contrast to plants in the east and southeast, where there is less pressure on farmers to move stock.
There is also a lot of variation reported in the price paid within factories.
Base quote
A base quote of €3.75/kg has been quoted to some sellers handling small numbers in these areas but there is scope to secure a base of €3.80/kg, with €3.85/kg reported as being paid to sellers with long-standing relationships and handling higher numbers.
A similar situation is evident in relation to heifers, with the base price ranging from €3.85/kg to €3.90/kg in general, but a higher base of €3.95/kg has been paid at the top of the market for choice heifers.
Difference in bull and cow prices
There is probably even greater variation between plants in bull and cow prices.
R grading bulls are trading anywhere from €3.80/kg to €3.90/kg, where traded in mixed lots with U grade bulls.
U grades are selling in general for €3.90/kg to €3.95/kg, with some reports of higher prices paid to specialised finishers, as reflected in the price tables.
Bulls less than 16 months old and trading on the grid are selling in general from a base of €3.80/kg to €3.85/kg.
P grades
P+3 grading cows are selling from as low as €3.05/kg to €3.10/kg but most plants range from €3.20/kg to €3.25/kg. Similarly, O grades range from €3.20/kg to €3.35/kg, with R grades from €3.40/kg to €3.60/kg and U grades from €3.50/kg to €3.60/kg.
Northern factories have succeeded in easing prices back by 2p/kg to 4p/kg.
The general U-3 base quote is £3.58/kg to £3.60/kg or the equivalent of €4.07/kg to €4.09/kg.
Some plants are quoting a lower base of £3.56/kg for later in the week, while regular sellers continue to extract a premium of 2p/kg to 4p/kg, with top prices rising to £3.64/kg (€4.14/kg).
Exports of Irish cattle North for direct slaughter reached 450 head for the last two weeks, on the back of a wider price differential.
Cumulative fall
A review of the last six to seven weeks shows a price fall of 25c/kg to 30c/kg, which on a 350kg steer carcase ranges from €87.50 to €105.
A weakening in the value of sterling to euro has been highlighted as a large contributor to the downturn in prices.
During this period, sterling has weakened from 89p to 92.5p currently.
A crude calculation shows the weakening in sterling equivalent to a shift of about 12c/kg to 13c/kg.
EU prices
The latest reduction in beef prices has resulted in Ireland falling well down the EU beef price table.
British prices are steady to marginally easier by 1p/kg to 2p/kg, at an average of £3.81/kg to £3.82/kg, or the equivalent of €4.12/kg.
This leaves a price differential between an equivalent 350kg carcase at about €120.
The latest Bord Bia price analysis shows R3 young bulls trading for €3.88/kg in Germany, marginally ahead of French R3 young bull prices of €3.81/kg, while a significant gap has opened to Italian young bull prices of €4.13/kg.
All of these prices are exclusive of VAT, with the Irish R3 steer price excluding VAT at the bottom at €3.78/kg.
Read More
Cattle prices easing as quotes drop to 356p/kg
Download the Irish Farmers Journal news app today and get the latest prices for all grades and all factories through the built-in Livestock Tool.
There is more variation in the base price paid for cattle in the last few days.
Areas that received the worst of the weather in recent weeks remain under the most pressure, with some plants focused on trying to bring the steer base price back to €3.75/kg.
This is in contrast to plants in the east and southeast, where there is less pressure on farmers to move stock.
There is also a lot of variation reported in the price paid within factories.
Base quote
A base quote of €3.75/kg has been quoted to some sellers handling small numbers in these areas but there is scope to secure a base of €3.80/kg, with €3.85/kg reported as being paid to sellers with long-standing relationships and handling higher numbers.
A similar situation is evident in relation to heifers, with the base price ranging from €3.85/kg to €3.90/kg in general, but a higher base of €3.95/kg has been paid at the top of the market for choice heifers.
Difference in bull and cow prices
There is probably even greater variation between plants in bull and cow prices.
R grading bulls are trading anywhere from €3.80/kg to €3.90/kg, where traded in mixed lots with U grade bulls.
U grades are selling in general for €3.90/kg to €3.95/kg, with some reports of higher prices paid to specialised finishers, as reflected in the price tables.
Bulls less than 16 months old and trading on the grid are selling in general from a base of €3.80/kg to €3.85/kg.
P grades
P+3 grading cows are selling from as low as €3.05/kg to €3.10/kg but most plants range from €3.20/kg to €3.25/kg. Similarly, O grades range from €3.20/kg to €3.35/kg, with R grades from €3.40/kg to €3.60/kg and U grades from €3.50/kg to €3.60/kg.
Northern factories have succeeded in easing prices back by 2p/kg to 4p/kg.
The general U-3 base quote is £3.58/kg to £3.60/kg or the equivalent of €4.07/kg to €4.09/kg.
Some plants are quoting a lower base of £3.56/kg for later in the week, while regular sellers continue to extract a premium of 2p/kg to 4p/kg, with top prices rising to £3.64/kg (€4.14/kg).
Exports of Irish cattle North for direct slaughter reached 450 head for the last two weeks, on the back of a wider price differential.
Cumulative fall
A review of the last six to seven weeks shows a price fall of 25c/kg to 30c/kg, which on a 350kg steer carcase ranges from €87.50 to €105.
A weakening in the value of sterling to euro has been highlighted as a large contributor to the downturn in prices.
During this period, sterling has weakened from 89p to 92.5p currently.
A crude calculation shows the weakening in sterling equivalent to a shift of about 12c/kg to 13c/kg.
EU prices
The latest reduction in beef prices has resulted in Ireland falling well down the EU beef price table.
British prices are steady to marginally easier by 1p/kg to 2p/kg, at an average of £3.81/kg to £3.82/kg, or the equivalent of €4.12/kg.
This leaves a price differential between an equivalent 350kg carcase at about €120.
The latest Bord Bia price analysis shows R3 young bulls trading for €3.88/kg in Germany, marginally ahead of French R3 young bull prices of €3.81/kg, while a significant gap has opened to Italian young bull prices of €4.13/kg.
All of these prices are exclusive of VAT, with the Irish R3 steer price excluding VAT at the bottom at €3.78/kg.
Read More
Cattle prices easing as quotes drop to 356p/kg
Download the Irish Farmers Journal news app today and get the latest prices for all grades and all factories through the built-in Livestock Tool.
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