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There are positive price trends within the NI beef trade with prices edging up 2p to 4p/kg.
Base quotes for U-3 animals remain on 466p/kg, however, that is 20p/kg below the actual prices on offer.
Prime in-spec steers and heifers are moving between 486p and 490p/kg with young bulls making 480p to 484p/kg, although bulls exceeding carcase weight limits are trading in the mid-470p/kg range.
A tightening in supply of finished cattle is underpinning the current trade, with that trend most evident in the marts where fewer animals are on offer compared to early spring.
Processing demand is also building ahead of the Euro 2024 championships and this is expected to create a short-term sales boost for manufacturing beef and striploins.
Cull cows are likely to benefit most from any uplift in beef sales. Price reports already indicate young cows are making upwards to 400p/kg this week with older cows closing in on 380p/kg.
Lambs
Pressure is being applied to the sheep trade with processors reducing quotes for spring lambs to 780p/kg, with deals limited at 10p to 20p/kg above this level.
Hoggets are back 40p/kg to quotes of 720p to 730p/kg. Negotiating beyond these levels is difficult without big numbers for sale.
However, buying demand is expected to increase by late May with the Eid-Al-Adha festival starting on 16 June.
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