Beef quotes for this week have moved up again, with beef processors very eager for finished cattle.

Some processors have had to increase quotes to €3.70/kg base for in-spec steers and heifers to secure supplies.

Some processors are still managing to buy in-spec cattle for between €3.50/kg and €3.60/kg base, but stocks are running out at this price.

Premium

A premium of 5c/kg to 10c/kg is being commanded for heifers across the board. Cows are also in very good demand, with €2.75/kg being paid for P+3 and €2.90/kg on offer from some plants for O+3 cows.

Some farmers with large numbers of cows have managed to secure €2.90/kg for a mix of O and P grading cows.

Good R and U grade cows are still up at €3.20/kg to €3.30/kg.

Bulls

Bulls have also edged up, with under-16-month bulls now starting at €3.50/kg base on the QPS grid and deals of €3.60/kg being completed for under-24-month bulls.

It’s the third week in a row that processors have had to increase quotes to secure supplies.

Industry sources suggest that retail promotions and discounting on steaks in some of the major retailers has boosted demand and has helped go some way in addressing carcase balance issues.

Last week’s kill remained under 26,000 head, which is just over 5,000 head less than the corresponding week in 2019.

UK prices

Across the water, the ADHB has reported that prime cattle prices continue to increase, with a rise of 1.5p for the week ending 2 May 2020, with the all-prime price averaging 323.6p/kg (€3.72/kg ex-VAT).

Steer prices led the way, increasing by 1.6p to 324.4p/kg (€3.73/kg ex-VAT). Heifer prices are up 1.0p, to average 324.0p/kg (€3.72/kg ex-VAT).

Young bulls rose in price by over 3p overall, to 314.5p/kg (€3.61/kg ex-VAT). Cow prices too showed a substantial increase, with -O4L cows trading at 238.9p/kg (€2.75/kg ex-VAT).