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Processors continue to push a negative outlook on beef prices, talking the trade down and cutting quotes by 4p to 6p/kg this week.
Factory agents are attempting to justify the latest cuts with repeated claims that beef sales have slowed and prime cuts are much harder to shift.
Others point to the collapse in beef prices in the Republic of Ireland, stating this is undermining the trade, especially sales of manufacturing beef into UK based food service markets.
However, there are a couple of factors within the trade that appear to be contradicting the factory narrative.
The live ring remains extremely robust and good quality forward stores are making 280p to 290p/kg, which equates to factory prices of 490p to 500p/kg.
Another trend developing over the past month has been the marked increase in cattle imported from the Republic of Ireland for direct slaughter, displacing local cattle at some plants.
Last week saw 595 animals moving north for slaughter, the second highest weekly import figure for 2023.
This week’s cuts puts base quotes for prime cattle on 454p to 462p/kg for U-3 animals, with most deals on steers and heifers around 474p to 478p/kg.
At the upper end of the market, there are reports of 480p/kg paid for bigger numbers from regular finishers.
Young bulls are on a base of 470p/kg with 2p to 4p/kg more for in-spec animals.
All plants will close on Wednesday 12 July, with Dunbia also closed on 13 July. Farmers should also note most marts will close next week.
Last week, the average price paid on all steers and heifers fell 3.8p to 468.51p/kg, with U3 steers down 3.9p to 485.2p/kg, while heifers at the same grade fell 1.9p to 484.9p/kg.
Cows
Quotes of R3 cows have seen a 10p/kg cut to 370p/kg, although most deals are holding around 400p/kg.
Prices at lower conformation grades are also under pressure with increasing numbers of dairy cows coming onto the market.
Factory quotes have seen cuts of 30p/kg from last week, while prices in the live ring are also down 30p to 40p/kg over the same period.
Base quotes have slumped to 570p/kg, with deals limited to 580p/kg making lambs worth £121.80 at the 21kg limit.
In Kilrea, 700 lambs sold from 520p to 543p/kg, down 58p to 66p/kg, while in Markethill, a subdued sale saw 930 lambs making 530p to 562p/kg, down 30p to 41p/kg week on week.
Lambs at 21.7kg made £122, 21.9kg to £122.50, with 24.2kg to £132 and 24.5kg at £132.
In Saintfield, 680 lambs made 525p to 555p/kg, down 30p/kg. Texels at 30kg made £134, Charolais at 27kg to £132 and Dorsets at 28kg making £127. Texel lambs at 22kg sold to £122.
At Rathfriland, a show of 621 lambs made 500p to 546p/kg, with the sale average of 532p/kg down 36p/kg on last week.
In Ballymena, early lots were a little easier. Lambs at 25kg sold to £128, 23kg to £127, 22.5kg to £119, 21kg to £111, 20.5kg to £109 and 20kg at £105.
Ewes
Quality fat ewes were also an easier this week. In Markethill, top price was £139 with others from £125 and upwards.
In Saintfield, Texels made £178 to £190 with the main run from £125 to £172. In Markethill, the top lot made £216.
Northern Ireland
Pence/kg cent/kg
Dunbia Dungannon…….Lambs to 21kg………....570…………..xxx cent
Linden Foods…………….Lambs to 21kg……..….570………….xxx cent
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