Factories quoting as low as €3.60/kg as beef trade remains under pressure
Latest market reports from the ICSA shows that factories are now quoting a beef price of under the €3.70/kg with the majority of factories paying a base of €3.60 – €3.65/kg for steers and heifers. These prices exclude the €0.12/kg bonus which is payable on in-spec QA animals.
Bord Bia in its latest update says that the cattle trade remains under pressure in recent days due to continued elevated supply levels at export meat plants. The trade continues to remain slow across our key export markets.
Cattle supplies at export meat plants for the week ending August 8 stood at around 28,000 head, which was 12% higher than the equivalent week in 2013. Cumulative supplies for the year to-date are running at around 107,000 head or 12% above the figures for the corresponding period last year. Throughput of prime cattle continues to be up significantly.
In Britain, Bord Bia says reported cattle prices from the AHDB have increased with GB R4L grade steers averaging at Stg 343.2 pence/kg DW (equivalent to 428.1c/kg DW) for the week ended 9th August. Trade remains quite slow however it is hoped that the return to work after the holiday period will help demand levels. Menu changes in foodservice are also expected to assist the trade.
On the Continent few changes have been reported in the trade. In France the R3 young bull price was unchanged at €3.69/kg and the O3 cow price remained at €3.43/kg. In Italy the R3 young bull price was down 7c to €3.88/kg and the O3 cow price was up 7c to €2.77/kg