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Processing demand for prime cattle continues to grow and after several weeks of leaving base prices unchanged, plants have finally moved to raise quotes.
Several plants added 2p to 6p/kg to quotes, putting the majority of processors on a base of 358p to 360p/kg for U-3 grading animals.
However, despite higher base prices, quotes still fall short of the deals being offered to farmers offloading cattle.
Farmers selling smaller numbers on a less frequent arrangement report prices of 364p to 368p/kg on offer.
In contrast, reports from farmers finishing cattle on a regular basis indicate that 370p/kg is widely available as a starting price, with young bulls and steers moving at 370p to 372p/kg for in-spec animals.
Where bigger numbers are on offer, there is an extra 2p to 4p/kg available. In-spec heifers also start on 370p/kg, with regular finishers reporting prices of 374p to 378p/kg for bigger numbers.
At 370p to 378/kg, prime cattle prices are running 50p/kg above those on offer during the same week last year, increasing the value of a 380kg steer carcase by £190.
Last week, the average price paid across all grades of steers and heifers rose by 0.33p to 359.9p/kg.
There were small increases in the prices paid to U grading animals, with U3 steers up 0.6p to 369.2p/kg, while U3 heifers rose by 0.1p to 373.1p/kg. Young bulls increased by 2p to 362.7p/kg.
Restrictions on UK food service has collapsed the number of Irish cattle imported for slaughter at NI plants, with just 225 animals imported over the past week, making it the lowest weekly import figure since the start of May.
Cows
Some plants have reduced cow quotes to focus more on processing prime cattle. This brings R3 grading cows to a base of 275p/kg, with O+3 animals on 265p/kg.
Farmers offloading good-quality cows continue to report deals of 300p/kg, with R3 cows averaging 294.6p/kg last week.
Lamb trade
The market for fat lambs is showing signs of strengthening, with firm prices in the marts and improved quotes at the plants. The best factory quote is up 5p to 440p/kg, making a lamb worth £92.40 at the 21kg carcase limit.
In Kilrea, 720 lambs sold from 391p to 418p/kg, no change for heavier lambs. Lambs at 25kg to 26kg made £93 to £94 respectively, with 23.5kg at £92 and 22kg at £88/head.
Massereene had a show of 926 lambs selling from 390p to 420p/kg, no change on last week. Heavy lambs at 27.5kg made £98, with 24.5kg from £93.50 to £95. Lighter lambs at 22kg made from £80 to £87/head.
In Saintfield, a show of 485 lambs made 390p to 458p/kg, no change for heavier lambs.
Trade in Lisahally was steady, with lambs averaging 24kg making £92/head.
In Rathfriland, 703 lambs made from 395p to 480p/kg. The average was 410p/kg, down 3p/kg on last week.
Store lambs are a very strong trade, with the best Texels in Ballymena making from £81 to £86/head.
Ewes
The trade for fat ewes is buoyant, with increased prices. Omagh sold ewes to £120, with Swatragh selling to £111 and Kilrea to £112/head. In Massereene, top price was £102, with the main run from £80 to £93/head. In Saintfield, ewes made £120 and in Rathfriland, the top was £137/head.
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