There are a few records that have entered into the beef trade in recent times that do not bode well for producers.

Beef throughput continues to run at record levels, with throughput for the year to date now running in the region of 40,000 head above the corresponding period in 2018, which itself was far higher than previous years.

Numbers starting to tighten

There is growing signs of numbers starting to tighten, but the disruption to normal processing from Easter will not help producers' cause in the short term, with prospects much brighter thereafter.

The length the trade has been without any upward movement is also likely to be within the range of setting new records, with only one change to the price since last October, a reduction of 5c/kg, which occurred a few weeks ago.

The trade since then has remained static, with the majority of steers and heifers trading at a base of €3.70/kg and €3.80/kg respectively, with small numbers trading 5c/kg higher.

Cow prices

Cow prices are firm, with good demand present at a price range of €2.70/kg to €2.85/kg for P+3 grades.

O grades are trading in the main from €2.80/kg to €2.90/kg, with select deals completed 5c/kg to 10c/kg higher.

Meanwhile, R grades are generally in the range of €3.00/kg to €3.10/kg, but up to 5c/kg to 10c/kg higher is being paid for top-quality cows. U grades range from €3.20/kg all the way to €3.40/kg.

Bull throughput

Strong bull throughput is putting a floor under supplies.

U grades range from €3.55/kg to €3.65/kg, with R grades from €3.45/kg to €3.60/kg at the top of the market.

These prices are for bulls meeting the desired specification, with cuts ranging from 10c/kg to 30c/kg for bulls deemed overweight.

O grades are trading from a wide differential of €3.20/kg to €3.40/kg, with only select deals above €3.30/kg.

Bulls less than 16 months and trading on the grid are moving at a base of €3.70/kg for those less than 400kg carcase weight, with some plants continuing to impose cuts of 10c/kg for bulls returning a carcase weight of 400kg to 430kg, while others are paying heavier bulls off the grid.

Northern trade

The northern trade is steady, with a firm tone to the trade.

The U-3 base quote for steers and heifers remains at a range of £3.32/kg to £3.36/kg in most plants or the equivalent of €3.85/kg to €3.91/kg at 86.2p to the euro and €4.06/kg to €4.12/kg including VAT at 5.4%.

Deals at the higher end of the market continue on a base of £3.40/kg, with top returns rising to the mid-£3.40s.