Factories continue to play hardball on steer and heifer prices. The majority of heifers are trading on a base of €3.60/kg, with small numbers trading at the higher end of the market on a base of €3.62/kg to €3.65/kg. Some factories are willing to offer allowances on transport costs where applicable rather than increase prices paid.

Flat-priced deals for O=/+ grading heifers range from €3.70/kg to €3.80/kg, with top prices in the northwest rising to €3.90/kg to €4.00/kg for heavy-carcase heifers that are also deemed eligible for the Chinese market.

It is a similar story for steers, with base quotes largely unchanged on last week’s levels and the majority moving at €3.60/kg. There are a few factories still trying to open quotes at €3.55/kg, but getting very little cattle at this level. There are rare reports of prices exceeding €3.60/kg.

Factories have been content to handle smaller numbers rather than increase prices and are using supplies of young bulls and cows where possible to supplement throughput.

Last week’s kill was recorded at 34,599 head. This is a reduction of 1,211 head on the corresponding week in 2018. Bull throughput of 5,399 is at its highest level in months, but is still lagging 884 head behind the comparable week in 2018.

Reports suggest the number of bulls coming on stream in the coming months will be tighter than recent years, with some finishers opting to finish lower numbers or switch production systems in response to heavy losses and market signals.

However, reports also show factory agents now ringing around some specialist finishers handling large numbers to see what cattle they have on hand in order to gauge supplies over the coming months.

There is also a lower focus on carcase weights, with factories willing to offer allowances where only small numbers of a bigger batch are deemed overweight.

Prices paid for U grading bulls range on average from €3.60/kg to €3.65/kg, although some plants with lower interest in bulls continue to quote €3.55/kg. R grading bulls range from €3.45/kg to €3.55/kg, with O grading bulls anywhere from €3.20/kg to €3.35/kg and even slightly higher when making up a low percentage of a bigger consignment of top-quality bulls.

Bulls less than 16 months and trading on the grid are being offered a base quote of €3.50/kg to €3.60/kg, with variation again between factories.

The mart remains the best outlet for well-conformed young and heavy-carcase cows. R grading cows are trading from €3.00/kg to €3.10/kg, with U grades selling from €3.10/kg to €3.20/kg on average. Plants most active in the cow trade are in cases paying 5c/kg to 10c/kg higher to sellers handling large numbers.

P+3 grading cows continue to trade in a wide differential, ranging anywhere from €2.65/kg to €2.80/kg. Meanwhile, O grading cows range in price from €2.75/kg to €2.95/kg, with a high percentage selling from €2.80/kg to €2.85/kg.

Firm NI trade

The trade in Northern Ireland is solid, with the supply-demand balance still slightly favouring producers.

Quotes for U-3 grading steers and heifers remain unchanged at £3.30/kg to £3.36/kg or the equivalent of €3.85/kg to €3.92/kg at an exchange rate of 85.6p to the euro and €4.06/kg to €4.13/kg including VAT at 5.4%.

Top returns for steers are rising into the low-£3.40s, with heifers securing a 2p/kg to 4p/kg premium.

British prices are steady, with R4L steers trading at £3.41/kg (€4.20/kg) and heifers 1p/kg lower.

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NI trends: cattle quotes holding steady but hogget prices rising