The beef trade remains steady with continued high supplies underpinning the trade. That’s according to Bord Bia’s latest market update where it also noted that trade remains similar to recent weeks across our key export markets.
It said prices quoted by export meat plants during the week were relatively similar to previous weeks. Steers were on average purchased at a base price of between €3.90 and €3.95/kg on the Quality Payment System. Heifers traded at a base price of between €3.95 and €4.00/kg. These prices exclude the €0.12/kg bonus which is payable on in-spec QA animals. Prices paid for O grade cull cows were generally ranging between €2.95 to €3.10/kg.
In terms of throughput Department of Agriculture figures cattle supplies at export meat plants for the week ending 3rd May stood at around 32,400 head, which was around 14% higher than the equivalent week in 2013.
Cumulative supplies for the year to-date are running at around 64,000 head or almost 13% above the figures for the corresponding period last year. Cumulative supply of heifers are up over 17% on the same period last year with steers and young bulls up by over 10% respectively.
In Britain, Bord Bia says reported cattle prices from the AHDB have decreased with GB R4L grade steers averaging Stg 361.9 pence/kg dw (equivalent to 439.5 cent/kg dw) for the week ended 3rd May. Trade has remained similar to recent weeks with demand remaining best for steak cuts.
Northern Ireland
The Livestock and Meat Commission reports that this week quotes from the plants this week for U-3 grade prime cattle ranged from 338-340p/kg inclusive of in spec bonuses.
It says some plants are now pricing cattle using this new all-inclusive price with associated reductions for out of spec while other plants have continued to use a lower base quote of 324-326p/kg and then add on the 12-14p/kg in spec bonus. Three plants have indicated all inclusive base quotes of 338- 340p/kg for early next week with one plant quoting 334-336p/kg. The remainder of the plants were not quoting at time of publication.
Producers should consult with individual processors before presenting prime cattle for slaughter. Quotes for O+3 grade cows were generally in the range of 240-250p/kg.
The LMC also outlines in its latest update that prime cattle throughput in the NI plants last week totalled 7,089 head, the second highest weekly throughput for the year to date. In the corresponding week last year 7,326 prime cattle were slaughtered. Prime cattle throughput for 2014 to date is running 4.3 per cent behind the corresponding period in 2013 with 5,170 fewer prime cattle slaughtered.