Upward momentum continues in beef trade
The cattle trade continued its movement upwards in recent days on the back of robust demand with some tightening in supplies, according to Bord Bia.
It also says the trade across our key export markets has shown little change in recent days.
Latest IFA beef price update
- Steer base €4.15/kg-€4.20/kg.
- Heifers €4.25/kg-€4.30/kg.
- Bulls €4.00/kg-€4.25/kg.
- Cows €3.40/kg-€3.95/kg.
Bord Bia says last week also saw a rise in cattle prices across some categories.
It says the majority of steers were being purchased at a base price of around €4.15/kg on the Quality Payment System while heifers were being purchased on average at a base of €4.20/kg with selected lots achieving higher prices.
These prices exclude bonuses payable on QA animals. Prices paid for O grade cull cows are generally making between €3.45/kg to €3.60/kg.
The latest cattle supplies at export meat plants for the week ending March 21 stood at around 29,500 head which was 3% behind supplies for the same week last year. Cumulative supplies for the year to date are down around 4,000 head on supplies for the corresponding period last year at around 370,000 head.
In Britain, Bord Bia says reported cattle prices from the AHDB have firmed with GB R4L grade steers averaging at Stg 363.3 p/kg (equivalent to 499.31 c/kg) for the week ended March 28.
It says the trade remains relatively slow with the strength of the pound undercutting the competitiveness of any stock coming into the UK however there are signs that this is firming up. Rumps are currently showing a good trade and ribs looks set to pick up while strips have remained weak.
In France, Bord Bia says the market remains steady with promotions this week centred on chucks, rumps, sirloins and diced beef. In Italy, little change was reported in the market.