After a long run of weekly price drops, the beef trade has finally showed some signs of steadying up this week.
Most processors have held on at last week’s quotes, with agents a little more anxious for stock in some cases.
This week’s base quotes range from €6.20/kg to €6.30/kg for bullocks, with heifers working off a base range of €6.30/kg to €6.40/kg.
There are a number of processors trying to quote less with quotes as low as €6.10/kg being talked about in some locations.
Once pressure is applied, agents are moving to last week’s quotes with farmers advised to sell hard – as supplies of cattle available for slaughter are a little tighter the last seven days. Farmers with bigger numbers are also in a stronger position in terms of negotiating prices.
Flat prices
Aberdeen Angus cattle are working off a flat price with €6.55/kg now being quoted in some factories.
Breed bonuses, where available, are still in the range of 5c to 20c/kg depending on the breed.
Cows
R grading cows are being priced at €6.10/kg to €6.20/kg, with more going to those with numbers.
U grading cows are now being bought at €6.20/kg to €6.40/kg, with higher prices going to regular cow sellers and specialist feeders.
O grading cows are being bought for around €6.00/kg.
P+3 cows are coming in at €5.80/kg to €5.90/kg, with some factories quoting lower for very light cows.
Bulls
R grading bulls are coming in at €6.40/kg to €6.50/kg, with U grading bulls being quoted at €6.50/kg to €6.60/kg.
O grading bulls are working off an all-in price of €6.20/kg to €6.40/kg, while P grading bulls are being quoted at €6.10/kg to €6.30/kg, depending on weight and flesh cover.
Over-age bulls are generally working off a price of €6.20/kg to €6.30/kg, depending on grades and flesh cover.
Under 16-month bulls are working off a €6.30/kg to €6.40/kg base price on the grid.
IFA Livestock chair Declan Hanrahan said increasing demand for beef and tightening of supplies in our key markets must be reflected in stronger beef prices.
“Recent promotions of beef in the UK market have gone very well, with stronger orders from the UK market as a result. Tightening of supplies in this market has steadied UK and NI beef prices considerably, with only very marginal declines in beef price in recent weeks,” he said.
Bord Bia
He also rounded on Bord Bia to do more for Irish beef finishers.
“We are continually told by Bord Bia about the need for standards and ever higher standards to maintain markets. Yet as soon as the first wave of southern hemisphere beef entered the UK market, we were left high and dry with our standards as beef from Brazil, New Zealand and Australia took our place,” Hanrahan said.
He added: “Bord Bia were quick out of the blocks claiming credit for the increased export value of beef last year when we hit record prices, but that is in the past. What we need now is our food marketing agency to step up with a significant promotional campaign that will win back customers and drive volume sales in key, high-value markets on our doorstep.”