This week's factory quotes have seen the move by processors to reduce beef prices continue.

Cow price offers have been cut by up to 40c/kg in cases since late October, with outlets that were quoting €7.10/kg for 'P' grade cows in the week following the October Bank Holiday quoting €6.70/kg for 'P' grade cows this week.

Despite the recent price cuts, cow price offers are still approximately €2.00/kg above this time last year when up to €4.70/kg was being quoted for 'P' grade cows.

Prime cattle price offers have also been cut by up to 20c/kg in cases as procurement staff move away from flat price offers and buying cattle more rigidly on the grid, and some of the higher breed bonus offers are also being reduced.

Prime cattle price offers also remain over €2.00/kg higher than this time last year.

Processors are moving to reduce the Hereford breed bonus to 15c/kg and the Angus bonus to 20-25c/kg, with some outlets still offering an Angus breed bonus of 30c/kg.

Factory quotes: Heifers and steers

This week, bullocks (steers) are being quoted at €7.40/kg on the grid with €7.50/kg being tabled at the higher-end of the price scale for steers.

Heifers are generally being quoted at €7.50/kg, with €7.60/kg on the grid being quoted at the higher end.

Many outlets have said their kill sheets are filled for this week - albeit at reduced capacity.

Some procurement staff are of the opinion prices will fall further while other factory agents expect to see a levelling-off in the trade soon.

Cow price

Cow prices offers have fallen most significantly in the past two weeks.

'P' grade cows are being quoted at €6.60-€6.70/kg and 'O' grade cows are being quoted at €6.70-€6.80/kg, with €6.90/kg tabled for better-type 'O' grade cows.

'R' grade cows are being quoted at €7.00/kg in general this week, and 'U' grade cows are being quoted at €7.10-€7.20/kg.

Some regular cow suppliers are managing to secure slightly higher rates for cows.

Bulls

Under-24-month bulls are being quoted at €7.60-€7.70/kg for 'U' grades, and 'R' grade bulls are being quoted at €7.50-€7.60/kg.

'O' grade bulls are being quoted at €7.30-€7.40, and 'P' grade bulls are being quoted at €7.20/kg with some suppliers again managing to secure more for bulls in cases this week.

Under-16-month bulls are being quoted at €7.40/kg on the grid.