This week’s factory prices sees beef processors further reduce quotes for all categories of beef cattle.
Processors are claiming the reduced quotes come as a result of beef demand easing in some of the key markets.
June 2022 has been a record month for the Irish cattle trade, with Irish cattle price overtaking the UK cattle price for the first time in 11 years, as well as European prices after falling behind the EU average price just last October.
Bord Bia recently outlined that market feedback was suggesting the gap between Irish prices and beef prices in market destinations for Irish beef was resulting in some reduction in demand levels, as buyers were seeking better-value alternatives.
Despite this, base price still remains in a relatively good position and supplies of finished cattle will likely remain stretched for the coming weeks.
The move by processors to reduce quotes follows a decline in weekly factory cattle throughput numbers for the past four consecutive weeks (up to week ending June 12). While weekly kills have fallen, the overall throughput is running over 75,000 cattle ahead of last year.
Starting with heifer price and between €5.15/kg and €5.25/kg on the grid is what most processors have on offer this week.
Steers are generally trading at 5c/kg less than heifers with €5.10-€5.15/kg on the grid being quoted for bullocks this week.
Cow price has eased also, but there is more price variation between factories in the cow and bull categories than in the prime cattle categories.
For U-grade cows, €4.90- €5.00/kg is being quoted, with €4.80-€4.90/kg on offer for R-grade cows.
O-grade cows are being quoted at €4.60-€4.70/kg and €4.50-€4.60/kg is on offer for fleshed P-grade cows with a carcass weight over 270kg.
Under-24-month bulls are ranging from €5.20-€5.30/kg for U-grades, with €5.10-€5.20/kg on offer for R-grades. O-grade bulls are trading from €4.90-€5.00/kg and P-grades are ranging from €4.80 -€4.90/kg.
Finally, under-16-month bulls are being quoted at €5.10/kg on the grid.