In this week’s factory quotes, the top base prices quoted for heifers and steers is fast approaching the 2022 prime-cattle price peak in late-May/early June of last year.
Factory quotes are approximately 90c/kg above this time last year, although input costs are also significantly higher.
While beef price is moving in a positive direction, base price still has some way to travel to the breakeven prices Teagasc has said will be needed for farmers finishing steers this winter.
All types of beef cattle are in high demand this week but some processors are particularly interested in heifers and are willing to pay extra where suitable batches come available.
Young bulls accounted for 15.5% of the beef kill composition in the first week of 2023, with just under 3,600 young bulls slaughtered that week.
The number of finished bulls appearing is increasing and farmers should ensure that under-24-month and under-16-month bulls are a minimum of a 2+ in flesh before sending them to the factory. This rule applies to all types of beef cattle but can be a particular issue in the bull and steer categories.
If in doubt, farmers should contact their factory agent to view their cattle in advance.
Prime cattle
Heifer quotes this week are coming in at €5.20/kg on the grid, with some outlets saying that €5.25/kg on the grid could be secured this week by farmers producing nice batches of quality beef heifers.
Some outlets are putting forward quotes 5c/kg below this, but will likely have to pay more to secure numbers.
Flat-price deals are available for all types of cattle with one outlet in the west offering a flat price of €5.45/kg for finished Angus heifers.
Steer (bullock) quotes are 5-10c/kg below heifer quotes with €5.15/kg on the grid being quoted at some of the stronger-buying outlets this morning and 5c/kg less being quoted at other outlets.
One processor based in Ulster which is traditionally ahead on price has fallen behind this week but its weight bonus for cattle between 300-400kg carcass weight brings the outlet it up to par on steer and heifer price.
Cow price
Cow price has moved on again this week but there seems to be more variation in quotes for cows.
Agriland’s Factory Prices Tool, which uses price data provided by factories to the Department of Agriculture, Food and the Marine (DAFM), shows an average price of €4.85/kg was paid for R=3= cows in the first week of 2023, with a top price of €5.10/kg paid in this category.
Factory quotes for this week hold a €4.90/kg flat price for U-grade cows, with €4.80/kg being quoted for R-grade cows.
O-grade cows are being quoted at €4.60/kg, with €4.50/kg being quoted for P-grade cows. Short-fleshed cows and cows with a carcass weights below 270kg will be paid at a lower rate.
Some outlets are quoting prices up to 20c/kg below these levels for cows. The mart trade remains strong for cows and is a good outlet for all types of cows if the farmer is unhappy with the price being quoted by the factory.
Bull price
For under-24-month bulls, a flat price of €5.20/kg is being quoted for R-grade bulls at the higher-paying outlets. U-grade bulls are being quoted 10c/kg above this.
O- and P-grade bulls are being quoted at €5.00/kg and €4.90/kg respectively. Some outlets are 5-10c/kg below this level on bull-price quotes.
Finally, under-16-month bulls are being quoted at €5.00-5.10/kg on the grid.