This week’s factory quotes (Monday, November 18) see many beef processors across the country put forward their highest price quotes on record , surpassing early June 2022 when prices last came close to current levels.
The current upward trend in beef prices has caught many beef industry personnel by surprise, as prices continued to rise into the final quarter of the year, contrary to the usual trend of prices generally falling off into late November and beginning to rise from then onwards.
With prices currently at an all-time high, it remains to be seen what direction prices will go into the opening quarter of 2025, but market indications suggest the supply-demand scenario to remain favourable towards farmers.
Factory quotes: Heifers and steers
Heifers are being quoted at €5.30-5.35/kg on the grid this week. Steers (bullocks) are being quoted at €5.25-5.30/kg on the grid in general.
When processor-paid sustainability bonuses and breed bonuses are factored in to prices this week, some farmers will manage to secure €6.00/kg or slightly above for in-spec R grade Angus heifers.
With five weeks to go until Christmas, some procurement staff are saying that beef for their peak Christmas orders has been secured, but despite this, the rising price trend would indicate demand is continuing to outstrip beef supply.
Cows
The cow trade is also enjoying continued price positivity, with prices remaining on an upward trajectory.
In the week ending Sunday, November 10, the average price paid for P1 cows was €3.61/kg, while on the other end of the scale, the average price paid for U grade cows was €5.18/kg. Click here to see average cow prices by grade and factory.
This week, quotes for fleshed cows with carcass weights above 270kg are €4.65-4.70/kg for P grades and €4.75-4.80 for O grade cows.
Cows grading an O+ are being quoted at €4.90/kg. R grade cows are being quoted at €5.00- 5.10/kg and €5.20/kg is being quoted for U grade cows. More money is being paid in cases across all grades of cows.
Bulls
Under-24-month bulls are being quoted at up to €5.60/kg for U grades, with €5.50/kg being quoted for R grades.
€5.30-5.40/kg is being quoted for O grade bulls and €5.20/kg is being quoted for P grade bulls.
Under-16-month bulls are being quoted at €5.30/kg on the grid.