Cattle prices holding at €3.70/kg
The cattle trade continues to remain steady at €3.70/kg, according to latest market updates from the ICSA.
It says prices remain unchanged on last week with the majority of steers and heifers were purchased at a base price of between €3.70 and €3.75 /kg on the Quality Payment System. These prices exclude the €0.12/kg bonus which is payable on in-spec QA animals.
The ICSA also says prices paid for R grade cull cows are down and generally making between €3.25 to €3.40/kg.
Last week Bord Bia said there was evidence of more finished cattle coming onto the market. However it noted that the trade remains slow across our key export markets.
Cattle supplies at export meat plants for the week ending July 27 stood at around 29,000 head, which was over 1% higher than the equivalent week in 2013. Cumulative supplies for the year to-date are running at over 104,000 head or 12% above the figures for the corresponding period last year. Cumulative supply of heifers are up by around 15% on the corresponding period last year with steers and young bulls 14% and 15% higher respectively.
Last week in Britain, reported cattle prices from the AHDB have increased with GB R4L grade steers averaging at Stg 340.8p/kg DW (equivalent to 429.8c/kg DW) for the week ended July 26. Trade was reported as continuing to remain sluggish overall with demand best for steak cuts as a result of the good weather with forequarter cuts continuing to remain slow.
On the Continent little few changes have been reported in the trade. In France the R3 young bull price was down 1c to €3.67/kg and the O3 cow price was up 1c €3.41/kg. In Italy the R3 young bull price was up 12c to €3.84/kg and the O3 cow price was down 3c to €2.71/kg