There are some signs of a bit more stability in the beef trade. Steers are moving in greatest frequency at a base of €3.90/kg for quality assured stock. Small numbers are trading on a base of €3.95/kg and likewise a small number of agents are trying to purchase of a lower base of €3.85/kg. Most sellers however are resisting the lower base and shopping around to get a better deal.

Heifers are meeting a similar trade with the majority trading on a base of €4.00/kg and small numbers of choice lots commanding 5c/kg extra. Flat priced deals for Angus and Hereford heifers range from €3.85/kg to €4.00/kg for O= and O+ grading lots.

Pressure on cows

Cows continue to face price pressure. Some plants have dropped quotes to €2.90/kg and €3.00/kg for P+3 and O grading Friesian cows. Specialist cow feeders have more negotiating power but are still finding it difficult to secure 10c/kg to 15c/kg higher with firm numbers appearing giving factories more buying power. O grading suckler cows are selling from €3.10/kg to €3.20 with R grades from €3.30/kg to €3.35/kg.

Bulls unchanged

The bull trade is pretty steady. U grade bulls are selling from €3.90/kg to €3.95/kg, R grades from €3.80/kg to €3.85/kg and O grades from €3.70/kg to €3.75/kg. Very heavy carcase weight bulls and those over 24 months of age are in cases facing a cut of 10c/kg to 20c/kg, much of which is being influenced by the producer-processor relationship and if these animals are part of a larger consignment of underage bulls. Bulls under 16 months trading on the grid are being quoted a base of €3.85/kg to €3.90/kg. This excludes the 12c/kg quality assurance bonus.

Outlook

Some plants continue to point to price pressure on the trade in the wake of the Brexit vote while others are predicting some stability entering the trade should exchange rates maintain a bit moreconstancy shown in recent days. Beef producers are also said to be showing less haste in moving cattle, buoyed by some more stability. This has left some agents with fewer cattle being offered although a number continue to report a percentage of under finished stock being traded that would be more suitable traded in the mart.

NI trade

Throughput is slowly climbing in the North but the market is holding firm, helped by exchange rates in trading to euro zone markets. The U-3 base quote ranges from £3.20/kg to £3.24/kg with frequent traders and producers with strong factory relationships still securing 4p/kg to 8p/kg on top of quotes depending on the type of stock on offer.

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