Beef trade: Price rise momentum for heifers and steers keeps going

Another week has passed and it’s another positive result for beef price. Farmers are seeing no declines in prices offered, as quotes rise further in a number of plants.

The backbone of this price increase can be attributed to the drive in demand for beef cuts at retail level.

Farmers and beef finishers are hoping that this momentum of rising quotes will continue – as it is having a very positive impact at mart level.

Heifers are now securing solid quotes of €3.85/kg this week rising to €3.90/kg in some plants. Farmers have reportedly negotiated deals up to €3.95/kg, provided they have a suitable load of in-spec females. 

Looking at the steer trade, these are now achieving quotes of €3.80-3.85/kg, with a few plants still providing lower prices.

As reported earlier this week, the cow trade is on fire in marts around the country with farmers considering their options when it comes to selling their good quality and well-fleshed cows.

The P-grades are starting off at a €3.00/kg quote this week, with O-grades receiving €3.10/kg. R-grades are still being quoted around the €3.30-3.35/kg mark by procurement managers.

There have been reports of deals of €3.30/kg for O-grades and €3.40/kg, with potentially more on offer, for R-grades secured in the south of the country late last week.

In the bull trade, under 16-month-old bulls are still receiving a €3.70/kg base price this week. Under 24-month-old bulls are valued again at €3.60-3.65/kg for O-grades, €3.70-3.75/kg for R-grades and up to €3.85/kg for U-grades.

Beef Kill

The official kill for the first week of 2021 recorded a total of 32,977 head of cattle being processed. This figure is up 4,462 head from the cumulative period for 2020.

Looking at the figures in more detail, there were over 11,720 heifers processed during the week-ending January 10.

Close to 11,140 head of steers were also slaughtered during the same period, while the number of young bulls killed reached 3,583 head.

The major rise of annual kills was seen in the cows category, with an additional 2,000 head being processed – when compared to the same week in 2020.