What a difference a year makes. This week last year, bullocks were being quoted €3.80/kg, with heifers touching €3.90/kg.

Fast forward 12 months, throw in tight supply and good demand and we are up almost €1/kg year on year and almost €1.50/kg on this time two years ago.

The beef trade isn’t simple to understand.

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Retail prices for beef are up a little, but nowhere near the lift that finished cattle have taken, so who is taking a smaller slice of the pie – the supermarket or the factory?

They obviously aren’t losing money at today’s prices, so does that mean they were making huge profits when beef was at €3.50/kg to €3.80/kg. Sometimes you have to wonder.

Quotes

In terms of beef quotes over the last week, it’s been a case of the laggards catching up with the leaders in the beef world, with a lot of the lower quotes coming up in the last few days.

Bullocks are working off €4.75/kg to €4.80/kg, with heifers coming in at €4.80/kg to €4.90/kg base price.

Factory agents remain very active in marts hoovering up stock for next-day killing.

Dairy beef

Dairy beef cattle continue to be sold flat in very high numbers.

Those with larger numbers of dairy-bred stock on hand have been able to negotiate €5/kg flat for mixes of O and R grade bullocks this week.

Up to €5.30/kg is being paid for R grading Aberdeen Angus heifers this week when all bonuses are included.

Cow demand continues

Cows continue to be in big demand, with up to €4.70/kg being paid for U grade cows this week.

The general run of R grade cows is ranging from €4.45/kg to €4.50/kg, with O grading cows ranging from €4.25/kg to €4.35/kg.

Factory agents remain very active for cows in marts around the country, with as high as €2.70/kg liveweight being paid for high-end cows this week.

Farmers with small numbers are advised to head to the mart ring and let factories and wholesalers fight it out for them.

Bulls are working off €4.85/kg to €4.95/kg for U grading under-24-month bulls, with €4.70/kg to €4.80/kg on offer for R grading bulls.

Under-16-month bulls are working off €4.70/kg to €4.75/kg base price.

With a five-day week, last week’s kill came in at normal levels again at just over 39,000 head of cattle, with all categories of stock back up to where they were two weeks ago.

A very strong cow kill of 8,685 cows was recorded last week.

The cumulative kill for 2022 is now running 31,551 head up on the same period in 2021. This will be a positive as we move through 2022, where increased numbers won’t have as big an effect on supply swings.

Across the water in Britain, beef quotes have improved again this week on the back of tight supplies and solid demand. R4L heifers have hit €5.41/kg incl VAT this week.

In the year so far, prime slaughter is 9% lower than at the same point in 2021 and cow slaughter is down 5%.

Further afield, the Brazilian beef price strengthened again this week to €4.20/kg, while closer to home, European markets remain in a strong position with supply and demand still in the finishers’ favour.

NI comment

Factory quotes are holding firm, with 410p/kg (€5.14/kg inc VAT) for U3 grading animal,s with R3 cows sticking at 330p/kg (€4.14/kg).

But with robust processing demand, price deals are running well ahead of quotes.

Steers are generally making 420p to 422p/kg (€5.27 to €5.30/kg), with good-quality heifers making 424p/kg (€5.33/kg) for regular sellers.

Higher prices are on offer, but reserved for specialist finishers or a good supply of butcher-type heifers.

Good-quality beef cows are making 350p to 360p/kg (€4.39 to €4.52/kg).