There are signs of further optimism with regard to the beef price paid by Irish meat plants, according to Bord Bia’s weekly cattle trade and prices update.
Firm market demand remains for most of the beef carcass cuts and demand is expected to ramp up as the Christmas season approaches.
Factory quotes are coming in currently at a base price of €4.20/kg for steers, with €0.05/kg more being paid for heifers, according to Bord Bia.
Demand for better quality, well-fleshed cows remains strong, and in general quotes tend to range from €3.45-€3.55/kg for P-grade cows, to prices of between €3.70 and €3.80/kg for good quality O-grade cows, while up to €3.95/kg is being paid for quality R-grade cows, according to Bord Bia.
The average prices paid for prime cattle for the week ending October 10, 2021 – as recorded by the Department of Agriculture, Food and the Marine – were €4.18/kg for R3-grade steers, and €4.22/kg for R3-grade heifers.
These prices have not changed since the previous week. Note that these prices exclude VAT but would include all bonuses such as for breed-based producer groups.
The Irish R3 steer price is €0.56/kg higher – up 15% than the corresponding week in 2021.
To date in 2021, the average price paid for Irish R3 steers has been €4.03/kg (excl. VAT) which is 11% higher than the same period in 2020.
Across Europe, the average R3 young bull prices remain at €4.06/kg excluding VAT.
Irish R3 steers exceeded this figure by €0.12/kg. Meanwhile, the UK average R3 price remained strong at €4.85/kg.
Weanling prices for the week ending October 2 , 2021, was 11% or €0.23/kg higher than the corresponding week in 2020.
The 2021 average R3 weanling price is 6% higher than the average price of 2020 for the first 39 weeks of the year.
Ireland’s weanling prices are below French and Spanish prices by €0.26/kg and €0.07/kg.
The EU average weanling price is slightly higher at €2.71/kg.
The current strength of Irish cattle prices among world prices is evident as Ireland comes just after Australian and UK steer prices.