Finished cattle prices continue to be impacted by weak demand from key export markets, according to Bord Bia.
It says that, in general, quoted prices in recent days were back slightly on the previous weeks, with throughput levels very similar.
Bord Bia reports that the majority of steers were purchased in recent days at a base price of €3.75/kg on the Quality Payment System which was back slightly on the previous week. Heifers were generally traded at a base price of €3.75 to €3.80 /kg. These prices exclude the €0.12/kg bonus which is payable on in-spec QA animals. Prices paid for cull cows were also lower than the previous week, with prices for the O grades generally making between €2.90 to €3.05/kg.
In terms of throughput, Bord Bia says cattle supplies at export meat plants for the week ending June 14 stood at around 31,000 head, which was almost 16% higher than the equivalent week in 2013.
Cumulative supplies for the year to-date are running at around 91,000 head or almost 14% above the figures for the corresponding period last year. Cumulative supply of heifers continue to be up by around 18% on the corresponding period last year with steers and young bulls 16% and 14% higher respectively.
In Britain, reported cattle prices from the AHDB have decreased with GB R4L grade steers averaging at Stg 344.4 pence/kg DW (equivalent to 428.4 cent/kg dw) for the week ended June 7. Trade showed some uplift with fine weather generating greater demand for steak cuts in particular. Promotional activity is planned in the coming weeks which may help the market.
On the Continent little change in trade was reported across main markets however some promotional activity is taking place is expected to help the trade.