Factories are continuing to hold the base beef price at last week’s levels, despite a marked reduction in cattle throughput.
The weekly beef kill has dropped below 30,000 head for the first time this year, figures from the Department of Agriculture show.
During the week ending March 20, the number of cattle slaughtered at Department approved beef export plants dropped to 28,482 head, which is 3,245 head lower than the previous week.
Prime cattle throughput also declined on a week-to-week basis, but the reduction in numbers has yet to trigger a price increase.
The steer base price remains unchanged in a number of beef plants and farmers can expect to be quoted 390c/kg for base steers. This excludes the 12c/kg Quality Assurance Payment.
A similar story is also evident in the heifer market, with farmers being offered a base price of 400c/kg, which has remained static since well before Christmas.
Many procurement managers insist that there is still a plentiful supply of suitable beef cattle and this is the main reason for the static beef price.
However, figures from the Department of Agriculture show that prime cattle throughput declined during the week ending March 20, compared to the week earlier with the collective steer, heifer and young bull kill falling by 7% (-1,734 head).
When looked at on an individual basis, the week-on-week heifer kill fell by 9%, the steer kill is back by 7% and the young bull kill is down 3%, between the weeks ending March 13 and March 20.
The majority of beef plants are also holding the price paid for culls cows at last week’s levels.
Good R grade cows are making 330-340c/kg, O grades are selling from 300-310c/kg and the plainer P types are being quoted at 290-300c/kg.
A slow trade was noted across the key export markets for Irish beef, according to Bord Bia.
British steer prices have eased and R4L steers made 335.7p/kg (425.12c/kg) for the week ending March 18.
Bord Bia reports that slow demand for beef combined with good beef cattle supplies are continuing to put pressure on prices in the British market.
Trade was slow for most cuts of beef, but some improvement was witnessed for fillets and rumps, while topsides also performed well.
The French market continues to remain focused on domestically produced beef, following the French farmer protests earlier this year.
As a result, retail promotions continue to focus on domestically produced ribs, stewing beef and striploins.
Bord Bia also reports the Italian market to be stagnant, but it expects the seasonal demand on the back of Easter to help the trade.
Markets