Beef prices: tighter numbers help steady beef ship

After a number of weeks of downward pressure on quotes, the beef trade has finally steadied this week.

There was talk of factories taking quotes back to a base price of €4.75/kg this week, but most bullocks have been bought at €4.80/kg base price for Monday and Tuesday's kill.

Some agents are indicating more pressure to get quotes back as the week progresses. However, this is being met with some farmer resistance on the ground.

Heifers are being quoted at €4.80/kg to €4.90/kg, with a few independent operators still operating at the higher end of quotes.

Tighter numbers has forced some factories back to feedlots, with grass cattle still slow to come on stream.

Cow trade

The cow trade is still very variable, with P+3+ cows being quoted at €3.80/kg to €3.90/kg this week.

R grading cows are being quoted from €4.20/kg to €4.30/kg, depending on the factory, while O grading cows are working off quotes of €4.10/kg to €4.20/kg.

U grading cows are being quoted at €4.40/kg to €4.50/kg this week.

There are some reports of factories shying away from lighter, poorly-fleshed cows or at least trying to buy them a lot less than well-covered cows.

Appetite remains firm for well-fleshed cows in marts, with NI agents buying for wholesalers also very active in the last week one the hunt for well-fleshed heavy cows.

Some exceptional prices of close to €3/kg continue to be paid for young cows in marts last week, with agents also very active for heavy bullocks and heifers.

Bulls

Base prices for under-16-month bulls are coming in at €4.85/kg to €4.90/kg.

Young under-24-month bull quotes are also under pressure, with U grading bulls now back at €5.00/kg to €5.10/kg.

R grading under-24-month bulls are being quoted at €4.95/kg to €5.05/kg, with O grading bulls back at €4.80/kg to €4.90/kg.

P grading under-24-month bulls are working off €4.70/kg to €4.80/kg this week.

Speaking to the Irish Farmers Journal, Irish Farmers' Association (IFA) livestock chair Brendan Golden said: “Farmers should resist factory pressure to get quotes lower. Grass cattle are in tight supply and finishers should use this to their advantage.

"Some factories have tried to pressurise farmers into selling under-fit cattle in recent weeks with some farmers getting big penalties killing under-fleshed stock.”

Losing a breed bonus and an in-spec bonus could be as high as a 40c/kg or €120/head on a 300kg carcase, so farmers should make sure that animals have a minimum level of cover before slaughter.