Across our key export markets, Bord Bia says the trade this week was steady in the UK but mixed on the continent.
It says that in Britain reported cattle prices from the AHDB have firmed with GB R4L grade steers averaging at 374.9 p/kg (equivalent to 502.25 c/kg) for the week ended January 31.
Bord Bia says the trade in the UK was reported as relatively steady. It says demand has eased somewhat for round cuts however forequarter cuts are performing well alongside minced and diced beef. Similarly, it says striploins are showing a positive performance.
In France, Bord Bia says the trade remains steady however there has been some increase in competition on the back of competitively priced continental imports.
It says promotions are taking place on steak cuts and roasting joints. In Italy, Bord Bia says demand for most cuts continues to remain slow.
Here at home, the cattle trade continues to slowly edge upwards with demand remaining strong, according to Bord Bia.
It says the majority of steers were being purchased at a base price of around €4.15/kg on the Quality Payment System while heifers were being purchased on average at a base of €4.20/kg.
Bord Bia says slightly higher prices were being negotiated for selected lots of in spec animals.
These prices exclude bonuses payable on QA animals, it says. Prices paid for O grade cull cows are generally making between €3.45/kg to €3.55/kg.
Throughput
The latest cattle supplies at export meat plants for the week ending January 31 were up marginally compared to supplies for the same week last year, standing at around 31,800 head. Cumulative supplies for the year to date are back 1%. Supplies of prime cattle continue to be back 3% on year previous levels.