Beef quotes have started this week as they finished off last week at €3.40/kg to €3.45/kg base for in-spec steers and heifers.

There seems to be more positivity in the trade, with some factory agents making calls to line up supplies for late May and early June.

Factory agents are currently able to source enough stock at current prices without having to shift higher.

Many processors are still operating at reduced capacity, working a three- to four-day week, and this is keeping a lid on demand.

Some are also reporting staff shortages due to COVID-19-related issues.

Cow trade

The fact that food service outlets are returning to business in both Ireland and across the water in the UK has restored some life to the cow trade, with one southern-based processor actively sourcing cows at the end of last week for this week’s kill.

Quotes remain unchanged, with P+3 grading cows continuing to trade around the €2.35/kg to €2.45/kg.

O grades are trading in the main from €2.50/kg to €2.60/kg, with better-quality R and U grading cows hitting as high as €2.90/kg at the top end of the market.

Under-24-month bulls continue to trade at €3.30/kg to €3.40/kg, with most factories imposing weight limits.

Young bulls

Young bulls are generally trading on a similar base to steers and heifers on the QPS grid, with a lower QPS bonus of €0.12/kg compared with €0.20/kg for steers and heifers.

The young bull kill for the week ending 12 April 2020 was down 1,717 bulls on the corresponding week in 2019, with 24,557 less young bulls killed in 2020 compared with 2019 numbers.

This is a massive drop and comes as a result of many factories shying away from young bulls last year. This resulted in a lot of bull producers castrating and moving to steer beef. This could have a knock-on increase in steer numbers in summer/autumn 2021.