Beef prices continue to move upwards this week with base quotes around 340p/kg for U-3 cattle.

Quotes last week ranged from 330p/kg to 338p/kg with factories with lower prices catching up this week.

Reports suggest that low to mid 350’s/kg can be obtained for full loads of cattle and pricing around gets more. Best butcher type heifers are pushing towards 360p/kg.

However factories are reluctant to give more than they have to with many producers only getting a couple of pence above base quotes.

Tight supplies of cattle to factories are driving prices with the total kill last week down 6% from the corresponding week in 2014 at 4,847. This makes it the lowest weekly kill of the year so far.

Imports of cattle over the border from ROI for direct salughter also increased last week to account for 9.3% of NI prime cattle kill. 449 head moving north last week was the highest weekly import since early May.

Exports of cattle to Britain last week was also the highest for the year to date at 145 head. Average steer price rose in GB by 5.3p/kg last week compared to a 9.9p/kg rise in NI, meaning a price differential of 13.1p/kg.

Continuing pressure on the euro, with €1 worth 70.9p, means beef here is a very strong price when compared with the rest of the meat market accross Europe.