This week’s factory quotes sees beef processors continue to apply pressure to cattle price, reducing quotes by a further 5-10c/kg.
All categories of beef cattle have taken a hit in price, with heifer quotes back by as much as 35c/kg from peak price in late-May.
Despite quotes falling, weekly supply is not overly strong, with weekly cattle throughputs remaining below 33,500 for the past six consecutive weeks up to the week ending June 26.
It remains unclear if prices will continue to fall or if price has ‘bottomed out’ and most procurement managers seem unwilling to give any indication as to the direction of cattle price next week.
Prices
€5.00-5.05/kg on the grid is on offer for heifers this week. This would leave an in-spec R+3- grade Angus heifer getting a breed bonus of 30c/kg coming into €5.61/kg.
Steer price has fallen this week also, with €4.95-€5.00/kg being quoted for bullocks this week.
Specifications have tightened up again and farmers turning out finished cattle should ensure cattle are well fleshed and not overfat and where cattle may grade unfavorably, farmers should seek assurances on price from their factory agent.
Looking at cow price this week and U-grade cows are being quoted at €4.90/kg, with €4.80/kg on offer for R-grade cows.
O-grade cows are being quoted at €4.60/kg and P-grade cows are being quoted at €4.50/kg.
Regular cow suppliers will likely be able to squeeze a little more out of the market on price.
Looking at under-24-month bulls and a flat price of€5.00/kg is on offer for R-grade bulls this week, with €5.10/kg available for U-grade bulls.
O-grade bulls are being quoted at €4.80/kg, with €4.70/kg on offer for P-grades.
Finally, under-16-month bulls are coming in at €4.90-€4.95/kg on the grid.
Farmers with finished cattle to sell should bargain hard on price to try secure as much from the market as possible.
Also of note is the growing number of reports from mart managers that activity from Northern Irish buyers is increasing for forward store and finished cattle, which is helping keep a lively mart trade for strong cattle.