Most farmers continue to face an uphill battle on beef price negotiations. Factories have this week reduced the base quote for steers to €3.80/kg and have also reduced the heifer base quote by 5c/kg, to €3.90/kg.
This is the level at which the majority of cattle in the west and northern half of the country are trading. This is also the entry base quote being offered in the east and south, but there are deals being completed at a base of €3.85/kg for steers and €3.95/kg for heifers, particularly where there is more than one factory competing for stock.
Demand is firm, reflected in strong factory appetite for stock, and it is thought it will be boosted by the reopening of schools. This may hopefully help to steady the trade.
A reduction in throughput would also help in this regard, but this does not look immediately likely given the deterioration in ground conditions in the northern and western regions of the country.
Last week’s kill increased by 3,260 to reach 34,516 head. Steer throughput lifted by 1,111 and, at 16,178 head, is the highest level since a six-week period in September and October 2016.
Heifer throughput increased 647 head to 8,267, while cow throughput recovered 948 head to 6,909 after last week’s dip. Four-hundred-and-seventy-five more young bulls (2,473) processed makes up the breakdown of higher numbers. This is 3,922 ahead of the same week in 2016, with the kill for the year to date running 55,257 above 2016 levels.
The cow trade has eased back, with P+3 grading cows trading from €3.20/kg to €3.30/kg, while fleshed O grading cows are trading from €3.25/kg to €3.35/kg, with specialist finishers and dealers still possessing good negotiating power in plants most active.
R grades cows are trading from €3.40/kg to €3.50/kg, with some plants dropping below this range, while U grading cows range from €3.45/kg all the way to €3.60/kg.
The bull trade is following a similar downward pattern to steer and heifer prices, with R grading bulls selling from €3.80/kg to €3.85/kg.
U grading bulls are selling from €3.90/kg to €3.95/kg, with individual sellers handling small numbers at the lower end of the price range. Bulls less than 16 months and trading on the grid are selling in the main on a base of €3.80/kg, with small numbers trading from a base of €3.85/kg.
NI trade steady
A number of northern plants continue to try to ease quotes into the mid- to high-£3.50s. Average prices have eased by 2p/kg to 3p/kg, but, as yet, sellers have resisted a sharp fall in quotes some factories are trying to implement.
A high percentage of sellers continue to secure a U-3 base price of £3.60/kg, with regular sellers trading at the higher end of the market rising to £3.65/kg and higher.
Sterling has moved further in the wrong direction for Irish exports and on Wednesday afternoon stood at 92p to the euro. This leaves prices at the equivalent of €4.12/kg and €4.18/kg respectively.
O grading cows continue to trade upwards of £2.80/kg (€3.21/kg), with R grades to £3.00/kg (€3.44/kg) and higher.
British prices are holding steady, with R4L steer and heifer prices averaging around £3.82/kg or the equivalent of €4.38/kg including VAT.
The R4L Scottish price, at £3.97/kg (€4.55/kg) continues to run 15p/kg to 20p/kg above English and Welsh prices.
R3 young bulls average £3.67/kg (€4.20/kg), while O grading cows average around £2.90/kg (€3.22/kg).
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Download the Irish Farmers Journal news app today and get the latest prices for all grades and all factories through the built-in Livestock Tool.
Most farmers continue to face an uphill battle on beef price negotiations. Factories have this week reduced the base quote for steers to €3.80/kg and have also reduced the heifer base quote by 5c/kg, to €3.90/kg.
This is the level at which the majority of cattle in the west and northern half of the country are trading. This is also the entry base quote being offered in the east and south, but there are deals being completed at a base of €3.85/kg for steers and €3.95/kg for heifers, particularly where there is more than one factory competing for stock.
Demand is firm, reflected in strong factory appetite for stock, and it is thought it will be boosted by the reopening of schools. This may hopefully help to steady the trade.
A reduction in throughput would also help in this regard, but this does not look immediately likely given the deterioration in ground conditions in the northern and western regions of the country.
Last week’s kill increased by 3,260 to reach 34,516 head. Steer throughput lifted by 1,111 and, at 16,178 head, is the highest level since a six-week period in September and October 2016.
Heifer throughput increased 647 head to 8,267, while cow throughput recovered 948 head to 6,909 after last week’s dip. Four-hundred-and-seventy-five more young bulls (2,473) processed makes up the breakdown of higher numbers. This is 3,922 ahead of the same week in 2016, with the kill for the year to date running 55,257 above 2016 levels.
The cow trade has eased back, with P+3 grading cows trading from €3.20/kg to €3.30/kg, while fleshed O grading cows are trading from €3.25/kg to €3.35/kg, with specialist finishers and dealers still possessing good negotiating power in plants most active.
R grades cows are trading from €3.40/kg to €3.50/kg, with some plants dropping below this range, while U grading cows range from €3.45/kg all the way to €3.60/kg.
The bull trade is following a similar downward pattern to steer and heifer prices, with R grading bulls selling from €3.80/kg to €3.85/kg.
U grading bulls are selling from €3.90/kg to €3.95/kg, with individual sellers handling small numbers at the lower end of the price range. Bulls less than 16 months and trading on the grid are selling in the main on a base of €3.80/kg, with small numbers trading from a base of €3.85/kg.
NI trade steady
A number of northern plants continue to try to ease quotes into the mid- to high-£3.50s. Average prices have eased by 2p/kg to 3p/kg, but, as yet, sellers have resisted a sharp fall in quotes some factories are trying to implement.
A high percentage of sellers continue to secure a U-3 base price of £3.60/kg, with regular sellers trading at the higher end of the market rising to £3.65/kg and higher.
Sterling has moved further in the wrong direction for Irish exports and on Wednesday afternoon stood at 92p to the euro. This leaves prices at the equivalent of €4.12/kg and €4.18/kg respectively.
O grading cows continue to trade upwards of £2.80/kg (€3.21/kg), with R grades to £3.00/kg (€3.44/kg) and higher.
British prices are holding steady, with R4L steer and heifer prices averaging around £3.82/kg or the equivalent of €4.38/kg including VAT.
The R4L Scottish price, at £3.97/kg (€4.55/kg) continues to run 15p/kg to 20p/kg above English and Welsh prices.
R3 young bulls average £3.67/kg (€4.20/kg), while O grading cows average around £2.90/kg (€3.22/kg).
Read more
Download the Irish Farmers Journal news app today and get the latest prices for all grades and all factories through the built-in Livestock Tool.
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