Factory quotes for prime cattle have fallen by approximately 55c/kg since prices peaked in April of this year.
Cattle price has been falling by approximately 5c/kg/week since mid-May and has continued on this downward trajectory again this week.
One of the stronger-paying outlets has reduced its price quote by 10c/kg for cattle this week.
A look at the Bord Bia Beef Market Tracker shows the gap between the Irish Composite Price (€4.56/kg) behind the Export Benchmark price (€4.73/kg) has narrowed to 17c/kg in the week ending Saturday, July 22.
Factory quotes: Heifers and steers
Heifers are being quoted at prices ranging from €4.75-4.80/kg on the grid this week, with procurement staff who are buying cattle for next week saying they are opening negotiations at €4.70/kg.
Steer quotes are ranging from €4.70-4.75/kg on the grid this week.
The overall supply of cattle has been falling for the past three consecutive weeks.
The week ending Sunday, July 23, saw the second-lowest weekly kill of heifers to date this year at 8,465 head. The same week recorded the highest weekly steer kill to date this year at 13,743 head.
Cow price
U-grade cows are being quoted at €4,30-4.40/kg this week, while R-grade cows are being quoted at €4.20-4.30/kg.
There appears to be less variation in cow quotes this week than had been seen in previous weeks.
Despite this, plenty of variation in prices paid for cows remains between outlets and official prices reported to the Department of Agriculture, Food and the Marine (DAFM) would suggest more money is being paid for cows.
Bulls
Factory quotes for under-24-month bulls are at €4.85-4.95/kg for U-grades with €4.75-4.85/kg available for R-grades.
Bulls grading O and P are being quoted at €4.50-4.65/kg and €4.40-4.55/kg respectively.
Under-16-month bulls are being quoted at €4.70-4.75/kg on the grid.