After a number of weeks of rising beef prices, quotes have held this week at last week’s prices.

Supplies of finished cattle are still tight, with a lot of processors anxious to secure supplies. And with good weather forecast and farmers thoughts on silage making, there will be no panic on selling stock in the short term.

Industry sources suggest that UK and ROI retail beef sales are up over 20%. This, coupled with a decline in the proportion of retail-eligible cattle being killed, would point to good demand for in-spec cattle in the coming weeks.

It is not known what effect the announcement that China has suspended Irish exports will have on the beef trade, but industry sources suggest the suspension will be shortlived, with exports expected to resume after a short period due to high Chinese demand.

There is a wide differential in prices being paid around the country, with factories choosing to reward bigger customers and loyal clients maintaining last week’s quotes.

Base prices

The general base price on offer across the board this week is €3.60/kg for steers and €3.65/kg for heifers.

Where last week’s prices are being held, weight restrictions are coming into play again. There are some factories trying to buy steers and heifers at €3.55/kg but most farmers are holding firm for a €3.60/kg base.

Reports on the ground suggest that cattle are coming fit off grass a little earlier than last year and this has boosted factory pickings in the last week.

There are also reports of farmers in drier areas offloading cattle earlier than usual.

Cattle close to finish are still a very good trade in marts and farmers should look at this option where cattle are a little off factory-fit.

There are a number of wholesaler agents very active for young cows and heavy heifers in marts this week.

Bull quotes remain relatively unchanged, with €3.50/kg being paid for under-24-month R grade bulls and €3.60/kg for U grades. While appetite for bulls is still subdued, €3.60/kg base is still available for under-16-month bulls on the grid.

Cows are most under pressure in terms of price this week, with an upward swing in numbers putting the ball back at the factories’ foot in terms of supply and demand.

Quotes for O grading cows are back 10c/kg to €2.90/kg. P+3 cows are also back, with €2.75/kg to €2.80/kg now the norm.

Good R grade cows are still in demand, with quotes holding around €3.10/kg and a little more on offer for higher numbers or a mix of U and R grade cows

Last week’s kill jumped 2,021 head to 28,932, the third week in a row that the kill has risen.

Cows once again made up much of this rise with an extra 1,085 cows killed last week.

This year’s cattle kill, excluding calves, is still 51,726 behind the 2019 kill up to week-ending 22 May 2020.

Northern Ireland

Base quotes at NI plants are unchanged on 342p/kg (€3.84/kg ex-VAT), but farmers report that 350p/kg (€3.93/kg) is widely available as a starting price for in-spec animals.

Farmers who have bigger numbers to offer, or are killing cattle on a regular arrangement, are securing prices over 360p/kg (€4.04/kg), with more on offer for specialist finishers.

Cow prices have strengthened, with quotes on R3 animals rising 5p/kg to a base of 275p/kg (€3.09/kg), but more is on offer as demand continues to grow.