The beef trade is unchanged, with factories getting their hands on required numbers with greater ease. This is stemming from more producers moving cattle in response to heavy rainfall.

Steer and heifer prices are static, with the majority of steers trading on a base of €3.75/kg, while heifers are trading 10c/kg higher at a base of €3.85/kg.

The flush in numbers has also taken the edge off negotiating power for those trading at the top of the market, with fewer prices reported at a 5c/kg higher base.

Last week’s kill was well back, with throughput falling 4,622 head to 33,831.

The reduction was expected with one day’s less processing and reduced capacity to compensate over the other four days, with many plants currently operating at higher than normal capacity.

There are reports of more cows coming on to the market, with dairy farmers taking steps to reduce grazing pressure or moving cows before housing, while there are also weaned suckler cows coming on to the market.

Reports show some plants trying to ease prices back, but, as yet, there has been little change. P+3 grading cows are trading from €2.90/kg to €3.00/kg on average, with O grading Friesian cows ranging from €3.00/kg to €3.10/kg, with some better-quality O grading suckler cows commanding a 5c/kg to 10c/kg higher price.

A massive differential rising to 60c/kg to €1/kg remains between these cows and poor-quality light-carcase cows lacking flesh. The average price for 753 P1 grading cows last week was €2.03/kg.

A high percentage of R grades range from €3.30/kg to €3.40/kg, while the number of U grading cows processed in recent weeks has ranged from just 150 to 200, with top prices rising to €3.50/kg to €3.55/kg and higher for young fleshed cows and cow-heifers in plants specialising in that trade.

Bull prices are unchanged, with a 5c/kg to 10c/kg differential persisting based on numbers on hand and the producer-processor relationship.

A high percentage of R grading bulls are trading within a price range of €3.75/kg to €3.80/kg, with U grades from €3.85/kg to €3.95/kg, but up to 5c/kg higher has been paid to specialist finishers.

Bulls less than 16 months and trading on the grid are selling in the main on a base of €3.75/kg, with €3.80/kg secured by a small number of specialist finishers.

Fat cover continues to be an important factor, with a desired score of 2+ upwards.

Northern trade

Brexit uncertainty continues to play havoc with sterling currency fluctuation. Wednesday afternoon’s exchange rate was listed as 87.4p to the euro compared with 88.7p last week.

This leaves the base U-3 steer and heifer quote of £3.50/kg to £3.54/kg at the equivalent of €4.00/kg to €4.05/kg or €4.22/kg to €4.27/kg including VAT at 5.4%.

Throughput remains high, with last week’s prime cattle kill recorded at 7,394, an increase of 528 head on the corresponding week in 2017. Regular sellers are securing 2p/kg to 4p/kg higher, with top returns rising to £3.60/kg (€4.34/kg incl VAT) excluding breed bonuses, which range anywhere from 15p/kg to 30p/kg.

The AHDB’s latest price report shows the British steer price easing 2p/kg, ranging from a reduction of 0.5p/kg in Scotland to 4.7p/kg in south England.

The average R4L steer is trading for £3.77/kg (€4.55/kg), with heifers on a similar level. The differential between Irish and British R3 steer prices stands at just over 50c/kg or about €175 on a 330kg carcase.

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Beef prices steady as cattle kill increases