Meat trade remains flat
In their most recent market update Bord Bia have noted that the cattle trade eased slightly throughout last week in response to some increase in cattle supplies being marketed. It also noted that continuing slow demand from key export markets is also impacting trade.
Bord Bia particularly outlined trade for in spec prime cattle eased slightly last week. It said the majority of steers were making around €3.90 to €3.95/kg on the Quality Payment System during the week. Heifers are trading at a base price of between €3.95 to €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 are making between €2.85 to €3.05/kg.
In terms of throughput Bord Bia note cattle supplies at export meat plants for the week ending 1st March stood at around 31,800 head, which was over 2,000 head or over 7% higher than the equivalent week in 2013. It added that cumulative supplies for the year are running over 17,000 head or 6.5 per cent higher than the figures for the corresponding period last year. Cumulative supplies of steers were up over 7 per cent on the same period last year while heifers and cows were up over 11 per cent.
Across the water in Britain, Bord Bia highlight that the trade still remains slow with large supplies to meet current demand. It has been noted that the extremely mild weather is contributing to the slow demand. Reported cattle prices from the AHDB remain steady with GB R4L grade steers averaging at Stg 373.0 pence/kg dw (equivalent to 453.0 cent/kg dw) for the week ended 1st March, it added.
Regarding the trade on the Continent, in France Bord Bia cite the trade for beef edged upwards as promotions for Irish beef have picked up in the lead up to St. Patricks Day. Most of the promotions have centred on ribs, loin skirts, minced meat and burgers. In Italy, little change in market conditions from previous weeks has been reported.
In France, the R3 young bull price was up 1c to €3.93c/kg, while the 03 cow price was unchanged at €3.41/kg. In Italy, the R3 young bull price was up 10c to €4.14/kg.