This week’s factory quotes for beef cattle sees the trade remaining firm overall with last week’s top prices still available despite one northern-based outlet reducing its opening price quote by 5c/kg.
Factory agents seem quietly confident of beef markets remaining firm, but it remains to be seen if the substantial lift in prices that was present last May will be appear in the beef trade again this year.
Last November, prime cattle price bottomed out at approximately €4.55/kg on the grid. Since then, prices have lifted by approximately 75c/kg.
Procurement bosses have indicated that Irish beef price increased a lot faster over the winter months than processors had originally expected.
The Bord Bia Beef Market Tracker shows the average R3 EU young bull price has declined in late-March and early April but the UK average R3 steer price continues to rise.
In the week ending Sunday, April 9, the average R3 male cattle prices in the UK, Ireland and the EU were as follows:
- Average Irish R3 steer price: €5.28/kg;
- Average UK R3 steer price: €5.62/kg;
- Average EU R3 young bull price: €5.02/kg.
With demand for beef expected to increase across Europe into the summer months as barbeque season arrives and beef supply forecast to be down, the supply-demand scenario would suggest Irish beef price rises are inevitable.
However, as farmers will know all too well, nothing can be said with any degree of certainty when it comes to beef price.
The best advice for farmers finishing cattle is to liaise closely with their factory agent and keep cattle moving on as they come fit.
Prime cattle
Heifer quotes remain at €5.30-5.35/kg on the grid with some outlets putting forward quotes at 5c/kg below this level.
Steers (bullocks) are being quoted at €5.25/kg on the grid with factory agents admitting 5c/kg more is available where quality, well-finished bullocks are presented.
Cows
Cow price quotes remain at the same levels as last week with U-grade cows being quoted at a flat price of €5/kg and R-grade cows being quoted at €4.90/kg, however substantially more money is available for cows.
In the week ending Sunday, April 9, the top price paid for an R+3= grade cow was €5.35/kg and the average price paid for cows in this grade was €5.06/kg. Similar prices remain available at the top-end of the scale this week.
Cows grading O and P are more plentiful and are being quoted at €4.70/kg and €4.60/kg respectively. Again, farmers with batches of well-finished cows will be able to secure more money for cows killing out in these grades too.
Bulls
Under-24-month bulls are being quoted at a flat price €5.40/kg and €5.30/kg for U- and R-grade bulls respectively, with €5.10/kg and €5.00/kg being quoted for O- and P-grade bulls.
Finally, under-16-month bulls are being quoted at €5.25/kg on the grid.