In this week’s factory quotes, cattle price holds steady again for this week, following on from last week’s steady overall price trend.
Factory quotes for prime cattle (heifers and steers) remain 5-10c/kg above where beef price bottomed-out last November and it remains to be seen which direction the beef trade will go from here.
Some of the outlets quoting the top prices for this week are attempting to secure cattle at lower prices for next week but it remains to be seen to what extent these reduced quotes will set into the trade.
Factory quotes: Heifers and steers
Heifers are being quoted at €4.60-4.65/kg on the grid this week, generally speaking. Bullocks (steers) are being quoted 5c/kg lower than heifers generally, with €4.55-4.60/kg on the grid available here.
At the higher-end of the price scale, in-spec cattle that were booked in earlier last week for slaughter this week are managing to secure prices a few cents above these price quotes, depending on the outlet.
The lowest price quotes for this week appear to be €4.55/kg and €4.60/kg on the grid for bullocks and heifers respectively.
Last November, steer price bottomed out at €4.50/kg on the grid and so far, none of the processors have dropped to this price level.
Cow price
In line with the prime cattle quotes, cow price has generally held this week.
Price quotes for U-grade cows are generally ranging from €4.20-4.30/kg, with at least one outlet offering up to €4.40/kg. R-grade cows are being quoted at €4.10-4.20/kg in general.
O-grade cows are being quoted at prices ranging from €3.90-4.00/kg while P-grade cows are being quoted at prices ranging from €3.80-3.90/kg.
Some cow suppliers are managing to secure higher prices per kilo, depending on quality and the number of cows available.
Bulls
Under-24-month bulls are being quoted at prices ranging from €4.80-4.90/kg for those grading U, with €4.70-4.80/kg available for those grading R, depending on the outlet. Bulls grading an O are being quoted at €4.50-4.60/kg and bulls grading P are being quoted at €4.40-4.50/kg.
Under-16-month bulls are being quoted at €4.55-4.60/kg on the grid.
Commentary from some factory procurement staff would suggest supplies tightened slightly last week as farmers prioritised availing of the good weather to carry out field work.
Prime cattle prices are currently at the lowest level this year. It remains to be seen if the current price quotes will be the 2023 price trough or if further price cuts will occur.