Beef prices remain steady as strong supplies reported

Beef prices remain steady this week as strong supplies are reported by procurement managers across the country.

The prime cattle market remains pretty much unchanged from last week with offers of between 375-380c/kg being made for steers while quotes for heifers range between 385-390c/kg.

Similar to previous weeks, procurement managers are willing to pay an additional 5c/kg for in-spec stock.

Meanwhile, the trade for young bulls continues to remain stable with little or no changes reported this week.

Buyers are offering between 380-390c/kg for a U grade animal, while 10c/kg less is being offered for R grade animals.

The cow trade continues to remain strong, with quotes of 330c/kg on offer for R grade cows while a slight improvement in lower grade cows is evident this week.

Farmers with O and P grade cows can expect to be quoted between 310-315c/kg and 290-300c/kg respectively by most procurement managers across the country.

Strong supplies have been reported across the country this week, with some factories already reportedly blocked out until the start of next week.

Main Markets For Irish Beef

In the UK, some ease in the trade was reported on the back of slower post-Christmas demand, according to Bord Bia.

Cattle prices from the AHDB show that GB R4L grade steers decreased in Sterling terms and are averaging at 365.9p/kg deadweight, the equivalent of 423.05c/kg, for the week ending January 14.

R3 grade heifers were making the equivalent of 412c/kg and 405c/kg in Britain and Northern Ireland respectively, in a week when the euro was averaging 87p.

In France, the market remains slow on the back of reduced demand, as trade was best for offal products with poor demand for entrecotes and steaks.

At retail level demand for imported product remains sluggish while limited promotions were on domestically produced ribs, Bord Bia data shows.