Beef factory prices remain unchanged
Base steer and heifer prices remain unchanged from those offered last week.
Several managers around the country who spoke to Agriland said that they are planning to offer the lower base quotes again this week.
These quotes of 360c/kg and 370c/kg for steers and heifers respectively are similar to those offered for the past two weeks.
Once again in-spec animals are likely to make an extra 5c/kg on the base prices offered for both steers and heifers.
Likewise both the young bull and culled cow markets are very stable with little change taking place.
Procurement managers are offering 270c/kg, 280c/kg and 310c/kg for P, O and R grade culled cows, respectively. A price of 315-320c/kg may be offered in cases of very good R grade culled cows.
Base beef prices:
- Steers: 360c/kg
- Heifers: 370c/kg
- R grade cows: 310c/kg
- O grade cows: 290c/kg
- P grade cows: 270c/kg
- U grade young bulls: 380c/kg
- R grade young bulls: 370c/kg
There has been another slight ease in the number of beef cattle slaughtered in Department of Agriculture approved beef export plants this week.
However, the kill for last week is still 12% or 4,000 head of cattle more than what it was for the same week in 2015.
This increase is mirrored in the year-to-date supply which is up 5% on 2015 at export meat plants.
Bord Bia is reporting that the UK beef trade remains steady with little change in prices but some increases in supplies.
Prices for R4L grade steers fell to the equivalent of 407.63c/kg and 379c/kg in Britain and Northern Ireland respectively, figures from the AHDB (the organisation for British beef and lamb) show.
In France the retail market continues to push domestic product leading to continued poor import prices, according to Bord Bia. The exception to this is offal which continues to show highest demand of imported product due to promotions.
Italian markets are also steady at wholesale level although Bord Bia reports some decreases in retail prices.