Cattle trade continues firm as supplies tighten
The cattle trade has firmed with strong demand coupled and tight supplies reported, according to Bord Bia.
It says the trade is reported as strong in the UK and steady across the Continent.
In its latest cattle price update, the IFA says factories are quoting a steer base €4.25/4.30/kg while heifers are being quoted ast €4.40/kg
The latest cattle supplies at export meat plants for the week ending June 20 stood at 29,000 head, which was over 7% behind supplies for the same week last year.
Cumulative supplies for the year to date are down 5% on supplies for the corresponding period last year totalling around 745,500 head.
In Britain, Bord Bia says reported cattle prices from the AHDB for GB R4L grade steers were averaging at Stg 347.3p/kg (equivalent to 487.8c/kg) for the week ended June 20.
The trade was reported as improving on the back of tight supplies while good weather is expected to increase demand for barbeque products, Bord Bia says.
In France, Bord Bia says little change has been reported while in Italy, it says the trade remains steady.
In France the R3 young bull price was up 2c to €3.71/kg and the O3 cow price was unchanged at €3.35/kg
In Italy the R3 young bull price was up 1c at €3.61kg and the O3 cow price was unchanged at €2.81kg
Last week in Ireland, the majority of steers were being purchased at a base price of between €4.25/kg and €4.30/kg on the Quality Payment System while heifers were being purchased on average at a base of between €4.35/kg and €4.40/kg with selected lots achieving higher prices.
These prices exclude bonuses payable on in-spec QA animals. Prices paid for O grade cull cows are generally making between €3.60/kg and €3.85/kg.