Factory quotes for beef cattle remain positive as Ploughing 2024 kicks off this week and the beef trade remains in a stronger position than this time last year, with processors are anxious for advance bookings in the lead up to Christmas.
Cattle procurement managers at some of the country’s main beef processing outlets are giving positive soundings on the beef trade in the lead up to Christmas with large orders to be filled and well-finished cattle needed to fill these.
Last week, Certified Irish Angus announced it is now taking bookings for a 30c/kg breed bonus , which will be made available to its members this autumn at ABP Food Group and Kepak sites.
The 30c/kg breed bonus will be paid on eligible Angus cattle booked in before Friday, September 20 and slaughtered between Monday, October 7, and Friday, November 15.
Factory quotes: Heifers and steers
Bullocks (steers) are generally being quoted at €5.00-5.05/kg on the grid this week. Heifer price is being quoted being quoted at €5.05-5.10/kg on the grid in general.
Farmers participating in the Advantage Beef Programme with in-spec Angus cattle to sell between Monday, October 7, and Friday, November 15, will be able to avail of 70c/kg in price bonuses on qualifying cattle when the 20c/kg QPS bonus, 20c/kg Angus bonus and 30c/kg Angus breed bonus are included.
Cattle born in March 2022 are going over 30-months-of age-this month and procurement staff are noticing high volumes of cattle just gone over the 30 month age limit appearing at factories.
Cow price
Cow price is running 30-40c/kg above last year in some cases and cow supply is having a big impact on overall kill numbers.
It remains to be seen how cow kill numbers will materialise into the final quarter of the year with current indications suggesting many of the larger cow volumes have been processed already this year.
The table below details the weighted average prices paid for cows by grade in the week ending Sunday, September 8, in c/kg including vat:
E U R O P Weighd. average 1 468 421 317 326 2 506 485 453 419 431 3 511 513 496 459 441 457 4 499 486 458 444 462 5 480 481 454 470 511 509 490 457 409 435
P grade cows are being quoted at €4.40/kg this week with €4.50/kg being quoted for O grade cows. €4.70-4.80/kg is being quoted for R grade cows with €5.00/kg and above on offer for U grade cows.
Bulls
Under-24-month bulls and U-16-month bulls are all in strong demand from processors with jobs for bull beef. Bull supplies are falling annually and this year is no different with the cumulative supply down by 7,000 head.
€5.30 and 5.20/kg is being quoted for U and R grade bulls respectively. O grade bulls are being quoted at €5.00/kg and €4.90/kg is being quoted for P grade bulls, generally speaking.
Under-16-month bulls are being quoted at€5.00-5.05/kg on the grid in general.