The highest percentage of steers are selling on a base of €3.80/kg, with reducing numbers trading on a base of €3.75/kg.

Where the lower base price is being paid, it is generally along the western half of the country, with factories having more purchasing power due to poor ground conditions.

There have also been deals completed at the higher end of the market at a base of €3.85/kg, with regular sellers handling large numbers in the best position to secure this base.

A similar trend is evident with heifers, with a significant number trading at a base of €3.90/kg.

There is probably more scope for regular sellers to secure the 5c/kg higher base of €3.95/kg for heifers (over steers), with throughput half that of steers. At the bottom of the market, heifers are trading on a base of €3.85/kg.

Prices for steers and heifers are on a par with the corresponding week in 2016, according to analysis by Bord Bia.

Cows

Cow prices are holding above last year’s levels, with prices running on average 15c/kg to 20c/kg ahead of the corresponding week in 2016.

Variation in price remains between plants, depending on their interest in cows. P+3 grading cows continue to trade anywhere from €3.10/kg to €3.25/kg with O grading cows trading in the main from €3.25/kg to €3.35/kg.

R grades are selling from €3.35/kg to €3.45/kg in general, but 5c/kg to 10c/kg higher has been paid to regular sellers handling large numbers, while U grade cows are selling from €3.50/kg to €3.60/kg and a top of €3.65/kg.

Northern Ireland trade

Quotes in Northern Ireland are also on a par with last week. Some plants continue to try to quote a U-3 base price lower than £3.50/kg, but most sellers continue to secure a base of £3.52/kg to £3.56/kg. Sterling continues to slowly recover and gain ground to the euro and, at Monday’s exchange rate of 90.8p, this equates to a base of €4.09/kg to €4.13/kg.

The Livestock Meat Commission (LMC) reports that preliminary results of the 2017 agricultural census shows a slight decline of 2,600 head in the northern Ireland suckler cow herd to 267,100.

There has also been a 1%, or 300 head, decline in the number of in-calf heifers on farms (30,800). The report says that this has been partly offset by an increase in the number of beef heifers intended for breeding, which increased 2% to 77,200.

Cattle over two years of age and intended for beef production totalled 105,100, a 3% increase on 2016 levels.

The number of male cattle aged between one and two years and intended for beef production increased 7% to 177,500, while the number of beef heifers increased by a similar number to 123,700.

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