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Factories have continued their efforts to pull back quotes at the start of this week’s trading.
While weather may be playing into their hands in the south, further north farmers are under no pressure to sell and quotes have remained stable.
The closure of Kildare Chilling is also pushing some numbers down south and affording some factories the opportunity to pull back quotes.
There was a wide range in quotes on Monday morning for in-spec stock. In the northern half of the country, prices are holding steady, with €3.70/kg on offer for in -spec steers and €3.75/kg being quotes for heifers.
Further south, prices are under a little more pressure, with €3.65/kg being quoted for steers and an extra 5c/kg going for heifers.
Towards the west, prices are again under some pressure, with €3.60/kg being mooted by one processor as a base quote, but €3.65/kg base being paid when pressure is applied.
Hereford and Aberdeen Angus cattle are still in demand, with flat deals of €3.75/kg to €3.85/kg going for suitable in-spec stock.
Young bulls
Young bulls are trading at €3.65/kg base on the QPS grid, which means that a U=3+ bull is coming into €3.95/kg if all bonuses are paid. Older bulls are working off €3.60/kg for R grading bulls and €3.70/kg for U grading bulls.
Cows are back 5c/kg, with quotes for P grading cows coming in at €2.90/kg to €3.00/kg, O grading cows at €3.00/kg to €3.10/kg and R grading cows at €3.15/kg to €3.25/kg, depending on numbers and quality.
Good-quality cows are still a very good trade in marts, with good northern demand for suitable cows.
Plainer cows are back a little in mart rings in the last few days, reflecting reduced factory quotes, but still commanding a better price than the factory route, especially for those with small numbers.
Tight supplies
Finished cattle supplies are still very tight and factories are still anxious for stock and killing everything that comes their way without delay.
Farmers with numbers are being especially looked after, which would be a further sign that cattle supplies remain tight.
Last week’s kill stood at 31,765 animals excluding calves, which brought the total number of animals slaughtered excluding calves to 1,051,831 animals so far in 2020.
I’d say you’ll see prices rise again in the not too distant future
This compares with 1,074,773 animals slaughtered during the same period in 2019 - a difference of just 22,942 on last year.
At the beginning of the year, Bord Bia expected the national kill to contract by 55,000 to 60,000 head, so figures would point to further reduced numbers coming on stream in the next few months.
Animals should always be marketed when fit, but there is certainly no cause for concern for farmers with finished stock on hand.
Nailing my colours to the mast, I’d say you’ll see prices rise again in the not too distant future.
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