The beef trade remains clouded in negativity, with the mood among finishers at a very low level. The majority of steers continue to trade at a base of €3.75/kg, with heifers 10c/kg higher at €3.85/kg.

There are select finishers securing 5c/kg higher prices, but numbers in the overall context of high steer and heifer throughput are small.

Some agents said it has been a little easier to move heifers, and in cases steers, under 30 months, with the focus remaining on these animals for the Christmas market. However, this has resulted in a reduced time from booking to slaughter rather than any increase in prices paid.

Last week’s kill was recorded in excess of 40,000 head for the third consecutive week, with reports suggesting similar throughput could be on the cards this week.

Total throughput for the year to 17 November is running at 55,599 head above corresponding 2017 levels.

The kill from mid-November to mid-December 2017 was also significantly higher than normal, ranging from 39,263 head to over 40,529, but the major difference in the trade was this level of throughput was just about satisfying demand, with prices creeping upwards on a weekly basis.

While there can be a slight positive taken in the fact that the trade is handling such high numbers, this is little solace to finishers who have experienced higher costs in 2018. It is also of little interest to those facing consecutive cow price cuts in recent weeks and downward pressure on bull prices.

Cow prices are very variable, depending on the supplier-processor relationship and the quality of cows on offer.

P+3 grading cows range anywhere from €2.60/kg to €2.80/kg, with O grades from €2.70/kg to €2.90/kg on average, while a high percentage of R grading cows are trading from €2.90/kg to €3.10/kg, with higher prices in cases.

Factories’ interest in young bulls ranges from plant to plant. U grading bulls range in price from €3.85/kg to €3.90/kg, with R grades from €3.70/kg to €3.75/kg on average. O grading bulls range from €3.50/kg to €3.65/kg, with fat cover continuing to have a big influence on price.

Northern trade

The trade is also subdued in Northern Ireland, with another 2p/kg coming off base quotes.

Base U-3 steer and heifer quotes range from £3.42/kg at the lower end of the market to £3.48/kg (€4.09/kg to €4.16/kg at 88.2p to the euro and 5.4% VAT included), with only sellers with good negotiating power pushing base prices to £3.50/kg and higher.

Cow prices have also come under pressure, with O grades ranging from £2.20/kg to £2.45/kg (€2.61/kg to €2.91/kg incl VAT) while R grades are up to 10p/kg to 15p/kg higher.

There is a similar situation in Britain, with cows meeting a difficult trade. The latest AHDB price report shows O+3 grading cows ranging from £2.41/kg to £2.46/kg (€2.88kg to €2.94/kg incl VAT). R4L steers and heifers average £3.73/kg and £3.70/kg respectively (€4.46kg and €4.42/kg incl VAT).

A quick glance at European prices reported by Bord Bia for the week ending 18 November shows R3 grading young bulls trading for €3.94/kg in Germany (down 16c/kg on corresponding week in 2017), €3.70/kg in France (down 25c/kg) and €4.15/kg in Italy (up 9p/kg), with all prices VAT exclusive.

This compares with an R3 steer price excluding VAT of €3.66/kg in Ireland, €4.04/kg in Northern Ireland and €4.20/kg in Britain. R3 heifers in Germany are reported at €3.72/kg, €3.87/kg in France and €4.14/kg in Italy excluding VAT.

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Northern view: limited price deals on offer for prime cattle