In what can be described as an unusual – but welcome – move from beef processors, cattle price has received a midweek lift of 10c/kg.
In Monday’s factory quotes, we saw processors with lower price quotes for heifers and steers moving up 5c/kg. However, it seems that from yesterday (Wednesday, February 15) a further 10c/kg has been added to processor-paid beef price.
The latest lift sees heifers trading at €4.50/kg-€4.55/kg on the grid and steers trading at €4.45/kg-€4.50/kg on the stronger end of factory quotes.
Some processors with smaller kills scheduled for this week are holding back at around the €4.40/kg and €4.45/kg mark for bullocks and heifers respectively.
The lift in price comes as demand from many export markets continues to strengthen, in particular the UK market.
The latest lift in factory quotes makes €5/kg available for all R-grade Angus heifers and for R+ Angus bullocks with carcass weights ranging between 300-380kg at Foyle Meats, Co. Donegal.
Looking at cow price now and €4/kg is available for heavy O-grade cows with a carcass weight of between 300kg and 400kg, with €3.90/kg available for P-grade cows in the same weight bracket.
The same processor mentioned above is paying farmers €4.20/kg and €4.30/kg for R and U-grade cows, respectively, in the same weight bracket.
Looking at under-24 month bulls and R-grade bulls with a carcass weight of between 320 and 400kg are securing €4.55/kg, with U-grade bulls in the same weight bracket making €4.65/kg.
Beef prices are showing all the signs of strengthening against the backdrop of a strong weekly supply of finished cattle, which would indicate a continued increase in market demand for Irish beef.
In light of the current global beef market conditions, farmers are being advised to sell hard and ensure every available cent is secured when selling finished cattle.