This week’s factory quotes sees some of the processors that had being putting forward the lower prices last week having to raise quotes for this week with the higher quotes from last week holding.
Procurement staff are particularly keen for in-spec, fleshed, under-30-month-old heifers and steers grading an R or U (which would be primarily suckler-bred cattle) and most procurement staff say these types of cattle are becoming increasingly “scarce”.
Conversations with beef industry personnel would indicate that markets for the higher-value beef cuts, such as steak meat, have “stabilised”, while the manufacturing beef cuts that are used for products such as meatballs, mince and burgers remain more difficult which was described by some as “concerning”.
However, there appears to be some level of optimism that manufacturing beef markets will begin to steady somewhat into the final four months of the year.
Factory quotes – heifers and steers:
Most outlets are quoting €4.65-4.70/kg on the grid this week for heifers. Bullocks (steers) are being quoted at €4.60-€4.65/kg on the grid.
Batches of well-fleshed, in-spec R- and U-grade heifers or steers with a carcass weight of between 300-400kg are becoming increasingly scarce and are in high demand.
Supplies of finished cattle were not as high as expected at many beef processing sites across the country last week. Wet weather conditions over the summer reduced cattle thrive and could delay the arrival of many finished cattle at factories.
Cow price
As with prime cattle, a premium remains available for well-fleshed suckler-bred cows grading an R or U. Cows grading O and P are more available, albeit fleshed cows in these categories also remain in demand.
Cows grading U are being quoted at prices up to €4.50/kg however, quotes of €4.20 and €4.30/kg are more common for U-grade cows.
Cows grading an R are being quoted at €4.10-4.20/kg however more money is likely available.
In the week ending Sunday, August 20, the average price pad for an R-3- grade cow was €4.37/kg with the top price being €4.90/kg, according to the Department of Agriculture, Food and the Marine (DAFM) price reporting.
O grade cows are being quoted at €3.90-4.00/kg and P-grade cows are being quoted at €3.80-3.90/kg.
Bulls
Under-24-month R-grade bulls are being quoted at €4.70-4.80/kg with bulls grading a U being quoted at 10c/kg above this.
Bulls grading an O are being quoted at €4.50-4.60/kg and bulls grading a P are being quoted at €4.40-€4.50/kg.
Under-16-month bulls are being quoted at €4.60-€4.65/kg on the grid.