In this week’s factory quotes, prices for all types of cattle dip by a further 5c/kg as the downward price trend in the Irish beef trade continues.
Prices reported to the Department of Agriculture, Food and the Marine (DAFM) show that the average all-in price paid for R-3= bullocks (steers) fell by 9.5c/kg from €5.55/kg to €5.46/kg in the month of May.
Last year, beef price peaked in late-May/early June and began to decline from there before bottoming out at €4.50/kg on the grid in late-October and beginning to increase again in mid-November.
This year, prices have been in decline since mid-May and factory quotes are now back to early January levels.
Factory quotes: Heifers and steers
This week, heifers are being quoted at €5.05-5.10/kg on the grid. Grass heifers are beginning to come fit and early reports indicate cattle have performed well on grass in most regions despite the poor weather conditions experienced in March and April.
Steers are being quoted at€5.00-5.05/kg at most outlets. Grass-finished steers will generally be slower to come fit than their heifer counterparts.
Some farmers have increased meal feeding to their cattle as grass growth rates have dropped off in many areas due to the prolonged dry weather, further adding costs to their finishing systems.
Breed bonuses remain available on in-spec Angus and Hereford cattle and range in value from 10-30c/kg.
Cow price
Cow price has taken another wrap this week with all types of cows back in price.
U-grade cows are being quoted at prices ranging from €4.50-4.70/kg while R-grade cows are being quoted at prices ranging from €4.40-4.60/kg.
O-grade cows are ranging in price from €4.20-4.40/kg and P-grades are ranging from €4.10-4.30/kg.
Bulls
Factory quotes for under-24-month bulls have fallen this week too, albeit processors still remain interested in all types of finished bulls, but at a lower price.
U-grade bulls are being quoted at flat prices ranging from €5.10-5.15/kg with €5.00-5.05/kg on offer for R-grade bulls. Additional money is being paid for bulls meeting agreed fat scores and carcass weight criterias.
Bulls grading O and P are being quoted at €4.85 and €4.75/kg respectively, generally speaking.
Under-16-month bulls are being quoted at €5.00/kg on the grid.