As with last week, the beef trade has continued to remain steady. After weeks of price uncertainty, procurement managers have steadied the ship somewhat and are offering bases of 385c/kg for steers and 395c/kg for heifers.
It’s worth noting that deals are being completed at higher prices and 5-10c/kg over base quotes have been achieved freely. This is especially the case for in-spec, quality-assured stock.
However, animals falling outside the 30-month category are meeting a more difficult trade, as are those with numerous movements prior to slaughter.
Meanwhile, the cow trade continues to remain a little tricky. Base quotes of 310c/kg are generally being offered for P-grade cows, O-grade cows are slightly stronger at 320c/kg and buyers are starting negotiations for R-grade cows at 340-350c/kg.
Supplies
Official figures show that there was a slight decrease in beef cattle supplies during the week ending July 29 – falling by 667 head or 1.8% on the week before.
Throughput decreases were witnessed in all of the major categories, with the exception of aged bulls.
Meanwhile, beef cattle supplies broke the one million head mark during the week ending July 29 to put cattle supplies for the year up 35,794 head or 3.7% when compared to the corresponding period in 2017.
Throughput increases were witnessed in all of the major categories, with young bull, cow and heifer supplies witnessing the main supply increases.