The beef trade is on the rebound, with massive jumps in quotes over the last seven to 10 days.
Quotes are up 30c to 40c/kg on where they were two weeks ago in some factories.
The big shift in quotes is on the back of a big shortage of finished cattle, with processors scrambling for stock in marts and in farmers’ yards over the last week.
Farmers with numbers have been able to hammer out deals which are 10c to 20c/kg above standard quoted prices.
Bullocks are generally being bought at €7.40/kg to €7.50/kg this week, with heifers now moving at €7.50/kg to €7.60/kg in most locations.
The highest base price I have heard of this week was €7.80/kg for a large number of heifers with a contribution towards transport.
Flat prices are very common once again, with €8/kg paid in a number of locations for mixtures of cattle, with Friesian bullocks included.
In-spec Aberdeen Angus (AA) and Hereford cattle are also in big demand, with flat prices of as high as €8.25/kg being paid for AA heifers this week.
On-the-grid bonuses of as high as 30c/kg are back on the table for AA cattle in some locations as well. Agents continue to light up marts, paying the equivalent of €8.50/kg and over it for well fleshed animals.
Cows
Up to €7.70/kg is back on the table for top-quality U grading cows, with €7.30/kg to €7.40/kg available for R grading cows depending on weight and flesh cover.
Good-quality O grading suckler cows are coming in around €7.10/kg to €7.20/kg. Some farmers have managed to negotiate a price of €7.10/kg for mixtures of well-fleshed O and P grading cows.
P+3 cows are coming in at €6.90/kg, with €7.00/kg paid for larger loads of fleshed dairy cows this week. Manufacturing demand is still high, with mince one of the high performers in terms of sales over the last few weeks. This is driving the price of cows forward.
Bulls
Quotes of as high as €7.70/kg to €7.80/kg are available for U grading bulls where numbers are involved, working back to €7.30/kg to €7.40/kg for O grades.
R grading bulls are coming in at €7.50/kg to €7.60/kg this week. There are no issues with weights in the last few weeks, with factories looking for volumes of beef.
Under-16-month-old bulls are working off a base price of €7.30/kg to €7.40/kg, with a little more going to those with numbers.
Beef kill
Last week’s kill recovered somewhat after three weeks of reducing numbers from late September.
A total of 28,141 cattle were slaughtered last week, up 2,117 head on the previous week.
This was mainly driven by an increase in the bullock kill.
The total prime cattle kill is down 132,525 head so far this year and if the kill remains 10,000/week below last year’s kill until the end of the year, the prime cattle reduction in 2025 could come closer to 200,000 by the end of the year.
When calf slaughtering is counted, the 2025 kill will be over 200,000 behind 2024.
Current indications from Bord Bia would suggest that there will be no major recovery in numbers in 2026, with finished cattle numbers remaining tight for much of the year.
US beef prices have hit a record $8.50/kg (€7.31/kg) in the last month, with predictions that it will go higher before Christmas.
There has been a big backlash from American cattle farmers in recent days around President Trumps plans to import more beef from Argentina.
NI comment
The big lift in quotes south of the border has helped stabilise quotes north of the border this week, with in-spec cattle continuing to be bought at 655p to 658p (€7.87 to €7.90/kg incl VAT).