The national headlines were dominated this week by Brexit negotiations, with longer-term outcomes having the potential to greatly interrupt trade movement.

However, for the moment, the trade is withstanding any pressure stemming from currency fluctuations with market demand performing favourably.

Last week’s kill increased 4,106 head to 32,112, but has still not risen to levels handled before the Christmas break.

Steers are steady, selling from a base of €3.75/kg to €3.80/kg, with heifers on a base of €3.85/kg to €3.90/kg.

Higher prices continue to be secured by regular sellers and those handling higher numbers. Flat-priced deals for Friesian steers under 30 months of age range in general from €3.65/kg to €3.75/kg, with demand strongest in the west and northwest where competing plants have paid 5c/kg to 10c/kg higher for good O+ grading steers.

Cow supplies remain tight relative to demand and factory agent activity, reflected in cows making up 6,315 head of the overall kill. Agents are very active in mart sales for all types of slaughter-fit cows.

P+3 grading cows continue to trade from €2.95/kg to €3.05/kg. There is a wide differential in prices paid for O grading cows, ranging from €3.00/kg to €3.15/kg in most plants, but rising 5c/kg to 10c/kg higher in plants specialising in the market. Likewise, R grades are selling from €3.25/kg to €3.40/kg, with U grades rising to €3.45/kg to €3.50/kg.

Peak bull throughput

Bull throughput is reaching its peak, with specialised finishers and farmers operating an under-16-month autumn-calving system currently moving bulls.

Last week’s kill was 5,295, about 700 head lower than the same period in 2016 where throughput peaked in January at 6,000 head.

Prices are steady, with U grading bulls selling mainly from €3.85/kg to €3.90/kg. Sellers with smaller numbers were quoted 5c/kg lower. Likewise, R grades are selling from €3.70/kg to €3.80/kg, with good-quality O+ grading bulls from €3.60/kg to €3.70/kg.

Weight limits remain varied, with many plants favouring bulls below 420kg to 430kg carcase weight, with others less concerned rising to 450kg. Above this, some are reducing prices by 5c/kg to 10c/kg.

Bulls less than 16 months of age are being quoted a grid-price base ranging from €3.70/kg to €3.80/kg, with those less interested at the lower price.

NI prices ease

After a long period of stable or strengthening prices, the northern beef trade has eased in the last week.

Base quotes have reduced by 2p/kg to 4p/kg, now ranging from £3.42/kg to £3.46/kg for U-3 grade steers and heifers.

At an exchange rate of 0.8681p to the euro and VAT at 5.4%, this equates to €4.15/kg to €4.20/kg.

Scope to negotiate higher payments has also been tightened, with top prices confined to £3.50/kg to £3.52/kg (€4.25/kg to €4.27/kg).

Quotes for fleshed O+ grading cows remain at £2.44/kg to £2.50/kg (€2.96/kg to €3.04/kg), with R grades 10p/kg higher, although sellers handling large number are securing 5p/kg above these quotes.

British prices are stable, with R4L steers and heifers selling on average from £3.65/kg to £3.68/kg (€4.43/kg to €4.47/kg), with prices remaining highest in Scotland and the border area with England.

O+ grading cows are trading from £2.30/kg to £2.40/kg (€2.79/kg to €2.91/kg).

Read more

Northern view: factories pull quotes to 346p/kg

Beef prices 2016: how does your factory compare?

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