This week’s factory quotes will see the highest price/kg ever-recorded paid to Irish farmers for steers and heifers.
According to Bord Bia’s cattle price dashboard, which records the weekly price for R3 prime male cattle in Ireland, the UK and the EU, the previous record Irish beef price was paid in the week ending June 15, 2013 ,averaging €4.43/kg.
This week (commencing Monday, February 21) sees processors open quotes at €4.45/kg on the grid for steers.
Some processors are running 5c/kg ahead of this and closed deals with farmers late last week at €4.50/kg, for mixed groups of finished heifers and bullocks.
Foyle Meats in Co. Donegal is paying €4.50/kg on the grid and also has a 10c/kg weight bonus available on steers, heifers and cows with a carcass weight of between 300-400kg.
Heifers are ranging in price this week from €4.50/kg – €4.55/kg on the grid, meaning an in-spec R3 Angus heifer is currently making €5.00/kg at the higher-end of the scale.
Looking at factory cow price this week and the cow trade is continuing to go from strength to strength, with prices ranging from €4.30/kg back to €3.90 being paid for heavy, fleshed cows – depending on grade.
Better-type U-grade cows are ranging from €4.20-€4.30/kg with R-grade cows making €4.10-€4.20/kg in many factories.
O-grade cows are ranging from €3.90-€4.00/kg while P-grade cows with flesh are getting €3.80-€3.90/kg.
Looking at under-24 month bulls this week and U-grades bulls are ranging from €4.50-€4.60/kg, with €4.40-€4.50/kg on offer for better-type R-grade bulls.
O-grade bulls are making from €4.25-€4.35/kg, while P-grades are making from €4.10-€4.25/kg.
Finally, under-16 month bulls are being quoted at €4.40-€4.45/kg on the grid.
Farmers are being advised by lobby groups to sell hard and not be afraid to negotiate on price.
While beef price is at a record high this week, farmers are well aware that input costs are also at a record high and soaring meal, fertiliser and fuel costs are eroding potential profit margins for farmers.