Finished cattle prices continue to rise, and for the first time ever in NI, the weekly average price paid for U3 grading animals has crossed the 400p/kg barrier.

Prices paid for U3 heifers surged to 402.3p/kg for the week ending 25 June, an increase of 7p/kg on the previous seven-day period.

Prior to last week, the highest weekly average for U3 heifers was the 396.5p/kg recorded back in June 2013.

Steer prices also hit record levels last week, jumping 6.5p/kg to 399.8p/kg, significantly ahead of the previous high point of 394.7p/kg recorded back in April of this year.

Price deals

While deals of 400p/kg and above have been on offer in recent weeks, they were mainly reserved for specialist finishers.

Farmers with smaller numbers have been capped at a top price of between 390p and 396p/kg for in-spec animals.

While more deals are available this week as supplies of finished cattle continue to tighten, processors are working hard to keep the trade in check.

Farmers offloading cattle report that agents are unwilling to quote beyond 396p to 398p/kg unless larger numbers can be supplied.

Some farmers have refused to sell at these prices, opting instead for the mart, where R and U grading animals are typically making 230p/kg. At a kill-out of 57%, the live trade is returning a finished price equivalent of 404p/kg.

Cows

Meanwhile factory prices for cull cows remain on 320p to 340p/kg for good quality suckler types, although this is running below the prices on offer in the marts.

Top-quality cows are making over 200p/kg in the live ring for animals in a slaughter fit condition, which at a kill-out of 54% equates to a finished price in the region of 370p/kg.

Sheep

In contrast to beef, the sheep trade has imploded as factory quotes collapse to 480p/kg, down 50p/kg on last week and 120p/kg in three weeks.

Deals above base quotes are hard to come by with processors able to manage throughput, given the surge in supply in recent weeks.

Fat lamb prices are now just 30p/kg ahead of last year when factories paid 450p/kg at the start of July.

However, the extent of the price cut may cause some supply issues over the coming weeks in the run up to the main buying period for the Eid Al-Adha festival. Rather than sell in a falling market, some farmers have decided to wean and dose lambs.

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