Beef trade solid on tight supplies

The beef trade is reported as being solid this week with little change in prices reported on last week.

Cattle supplies remain tight though, with factories working of the basis that their will be 60,000 less finished cattle coming forward before the end of the year.

Bord Bia says the cattle trade continues to be underpinned by strong demand coupled with tight supplies. It says the trade was reported as strong in the UK while a steady trade was reported on the continent.

IFA beef price update
  • Steer base €4.30. Tops €4.35.
  • Heifers €4.40.
  • Bulls €4.15/4.30/4.40.
  • Cows €3.70/4.15.
  • UK prices up another 9c/kg.

The latest cattle supplies at export meat plants for the week ending June 27 stood at around 29,000 head which was over 7% behind supplies for the same week last year.

Cumulative supplies for the year to date are down 5% on supplies for the corresponding period last year at around 774,600 head.

beef kill12

In Britain, Bord Bia says reported cattle prices from the AHDB for GB R4L grade steers were averaging at 353.6 p/kg (equivalent to 498.04 c/kg) for the week ended 27 June.

It says the trade was reported as remaining strong on the back of tight supplies with good weather increasing demand. It also notes that favourable exchange rates are continuing to make exports more competitive.

On the continent, little change has been reported with trade relatively steady.

In France the R3 young bull price was down 1c to €3.70/kg and the O3 cow price was up 2c at €3.37/kg

In Italy the R3 young bull price was up 8c at €3.69kg and the O3 cow price was up 4c to €2.85kg

Last week, the majority of steers were being purchased at a base price of between €4.25/kg and €4.30/kg on the Quality Payment System while heifers were being purchased on average at a base of between €4.35/kg and €4.40/kg with selected lots achieving higher prices.

These prices exclude bonuses payable on in-spec QA animals. Prices paid for O grade cull cows are generally making between €3.65/kg and €3.85/kg.