Factory quotes for finished cattle have seen very little change since the end of January and that trend is now continuing for the fourth month, with quotes remaining firm but no increases apparent.
This period of beef price stability in Ireland comes at a time when the supply of finished cattle in the first four months of this year is down 30,500 head on the same time period last year.
A look at the Bord Bia cattle price dashboard affirms that the Irish composite beef price remains firmly above the export benchmark price. On Saturday, April 29, the Irish composite beef price was €5.07/kg while the export benchmark price was €4.79/kg.
Factory quotes: Heifers and steers
Heifers are being quoted at prices ranging from €5.25-5.30/kg on the grid while steers are being quoted at 5c/kg less.
Breed bonuses on Angus and Hereford heifers and steers remain available and range anywhere from 15-30c/kg.
The number of steers slaughtered to date this year is back by 11,000 head on last year, while the heifer kill is back by 9,400.
Cows
Cow price varies largely between outlets and it appears that processors are willing to hold prices for well-finished cows but are attempting to reduce prices for light and short-fleshed cows.
In the final week of April, 64% of all cows slaughtered graded a P. A total of 20% of all cows slaughtered in the final week of April had a fat score of 2= or below and could therefore be deemed as ‘short of flesh’.
Up to €5.20/kg is still on the table for U-grade cows with R-grade cows being quoted at €5.00-5.10/kg.
Cows grading O and P are being quoted at €4.60/kg and €4.50/kg respectively, with 10-15c/kg more being paid for well-fleshed P-grade cows with a carcass weight above 270kg and 20c/kg more for O+ grade cows meeting the same criteria.
The top price paid for an O+3= grade cow in the final week of April was €5.10/kg. The overall cow kill is back by 2,400 head to date this year.
Bulls
Under-24-month bulls are being quoted at €5.35/kg and €5.25/kg for bulls grading U and R respectively, with bulls grading O and P being quoted at €5.10/kg and €5.00/kg respectively.
Under-16-month bulls are being quoted at €5.20/kg on the grid.
Some sites are paying substantially more than others for bulls and the prices reported to the Department of Agriculture, Food and the Marine (DAFM) show as high as €5.70/kg was paid for U+=2+ grade young bulls in the final week of April.