This week’s factory quotes see price cuts for beef continue, with prime cattle quotes at some sites back by 40c/kg from peak prices in mid-April of this year.
Conversations with procurement bosses would indicate that further beef price reductions are expected over the coming weeks.
While prices are falling, supplies of cattle are remaining relatively steady and supplies of grass cattle are expected to begin increasing further from August onwards.
Factory quotes: Heifers and steers
Heifers are generally being quoted at €4.85-4.90/kg on the grid this week with steers being quoted at €4.80-4.85/kg.
Several factory outlets have the majority of their cattle already bought for this week and are citing reduced prices for next week’s cattle.
Many of the country’s factory outlets are still operating short kill-weeks, however most of these will return to five-day kills as supplies increase into the autumn months of the year.
Breed bonuses remain available on in-spec Angus and Hereford cattle and generally range from 10-30c/kg, depending on the outlet.
Cow price
Significant price variation remains in the cow category with up to 30c/kg of a price differential between factories.
U-grade cows are being quoted at prices ranging from €4.60-4.30/kg; R-grade cows are being quoted at €4.40-4.20/kg; O-grade cows are being quoted at €4.20-4.00; and P-grade cows are being quoted at €4.10-3.80/kg, depending on the outlet.
A P-grade cow with a 300kg carcass weight has a price differential of €90 between outlets this week with the stronger cow-buying outlets out in front on price.
Bulls
Under-24-month bulls have also dropped in price but remain in demand respective to steers. The quote for R-grade bulls is on par with or 5c/kg above the base price for steers at many factory outlets this week.
Bulls grading a U are being quoted at €4.95-5.05/kg. R-grade bulls are being quoted at €4.85-4.95/kg; O-grade bulls are being quoted at €4.65-4.75/kg; and P-grade bulls are being quoted at €4.55-4.65/kg
Under-16-month bulls are being quoted at €4.80-4.85/kg on the grid.