This week's factory quotes sees beef price offers reduced by 10c/kg.

This week (Tuesday, August 4) marks the second consecutive week prices have reduced after four consecutive weeks of price increases.

The Tullamore Show and FBD National Livestock Show takes place this coming Sunday, August 9, and is generally an event that captures the sentiment amongst beef farmers nationally heading into the autumn of the year.

The week following the August Bank Holiday Monday is traditionally a week that sees more farmers move to draft cattle off grass for slaughter.

However, the recent prolonged dry spell resulted in many farmers with cattle out at grass having to change tact.

It remains to be seen what impact the recent dry spell will have on factory cattle supplies.

Some farms housed cattle for finishing up to a month earlier than usual, while other farmers slaughtered more forward-type cattle earlier than they had originally anticipated.

Factory quotes: Heifers and steers

This week, heifers are generally being quoted at €6.50-€6.55/kg on the grid.

Steers (bullocks) are being quoted at €6.40-€6.50/kg on the grid.

Some outlets already have kill sheets filled for this week and say they are taking bookings for cattle next week at €6.30-€6.40/kg for steers and heifers respectively but it remains to be seen if these lower prices will actually set into the trade.

Most outlets have reduced the prime cattle price offer by 10c/kg this week.

The latest official prices paid by factories are available to view here.

Angus breed bonuses remain at 15-20c/kg on eligible cattle in general, while Hereford breed bonuses are generally ranging from 5-10c/kg on eligible cattle.

Cow price

Cow price offers are easing this week also, with some of the higher cow price offers from last week cut by up to 30c/kg for this week.

Quotes of €6.00/kg have been taken off the table for 'P' grade cows this week, but are still likely available in cases for pre-booked cows.

'P' grade cows are being quoted at €5.90/kg this week but some outlets are tabling offers as low as €5.70/kg for 'P' grade cows.

'O' grade cows are being quoted at €6.00/kg with some of the lower offers coming in at €5.80/kg for 'O' grade cows this week.

Price offers for better-type 'R' and 'U' grade cows have held better than offers for 'O' and 'P' grade cows.

'R' grade cows are being quoted at €6.20-€6.30/kg in general, and 'U' grade cows are being quoted at €6.40-€6.50/kg.

Bulls

Under-24-month bulls are being quoted at €6.60-€6.70/kg for 'U' grades with €6.50-€6.60/kg tabled for 'R' grade bulls.

'O' grade bulls are being quoted at €6.40/kg and 'P' grade bulls are being quoted at €6.30/kg.

Under-16-month bulls are being quoted at €6.40/kg on the grid.

Some of the higher price offers from last week will have carried over this week, but procurement staff seem adamant the lower offers will set into the trade.

Procurement managers seem more confident on the trade levelling off into the autumn rather than continued price declines but it remains to be seen how the autumn beef trade will eventually materialise.