Factory quotes: Short week but higher beef prices on offer

Factory quotes for beef cattle this week are positive for beef farmers as keen demand for cattle drives prices in an upward direction.

The number of cattle processed this week will likely be very low as most factories are only operating two or three days this week due to the Christmas holidays.

Despite this, procurement staff and factory agents are out and about this week and are keen to secure cattle to fill out kill sheets for the opening weeks of 2023.

The number of finished heifers and bullocks (steers) available has been falling over the past number of weeks after the seasonal supply peak in October and November.

The supply of finished prime cattle is also expected to significantly tighten in February and March and assuming the demand for beef remains strong, further upward price movement is likely to be on the cards.

Looking at heifer prices this week in the region of €4.95/kg to €5.05/kg on the grid is being quoted. Meanwhile steer price is being quoted at approximately 5c/kg below heifer prices.

While some factory quotes remain below €5/kg on the grid, the reality is, very few lots of cattle are being bought this week at anything under €5/kg on the grid or a better flat price offering.

Breed bonuses remain available for Angus and Hereford cattle. Many processors remain particularity keen for Angus heifers and steers and are willing to pay a slightly higher breed bonus than others.

Factory quotes: Cow price

When it comes to cow price €4.60/kg is on offer for R grade cows with €4.70/kg being quoted for U-grade cows, O-grade cows are being quoted at €4.40 and €4.30/kg is being quoted for P-grade cows with a carcass weight over 270kg.

The better-fleshed, heavy types of O and P-grade cows are managing to secure a few cents more at some of the stronger cow-buying outlets and the same is the case for the R and U-grade cows.