After three weeks of uncertainty as to what direction the trade was headed in, this week has seen some stability come into beef markets.

Early quotes for the beginning of next week are coming in similar to this week, with almost all factories now working off a €4.90/kg base price for bullocks and a €5/kg base price for heifers.

There are still some operators able to squeeze 5c to 10c more out of the market with some factories quoting lower prices, but paying more when pushed.

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Prime cattle have seen 40c/kg wiped off their value in the last four weeks - the equivalent of €140/head on a 350kg carcase.

Farmers are being advised to get clear visibility of weight limits and other in-spec requirements, as some factories have moved back to weight limits.

Range in bull quotes

There is a wide range in bull quotes, with some factories trying to buy under-16-month bulls on Monday morning at €4.90/kg, with others quoting €5.00/kg on the grid.

U grading under-24-month bulls are being quoted from €5.00/kg to €5.10/kg, with R grading bulls coming in at €4.90/kg to €5.00/kg.

Cows are being bought on a variety of quotes, depending on who you are, who you are dealing with and what numbers you have.

Factories are quoting €4.80/kg for R grading cows, €4.60/kg for O grading cows and €4.40/kg for P grading cows.

Specialist producers and those dealing with larger numbers are still working off 10c to 20c/kg higher than these quotes.

The mart trade for heavy cows is still strong, with factory agents continuing to be very active around rings.

Revised kill figure

Bord Bia has revised its figure for where the kill will end up at for 2022.

It had previously estimated that the national kill would be up around 80,000 head, but a combination of more dairy-bred cattle finishing earlier and an increased cow kill, it now estimates that the national kill will rise by around 110,000 head in 2022.

This may also change depending on how finishers react to increased input costs and it could mean more farmers will push cattle harder at grass to avoid the expensive winter finishing period.

Bord Bia has also said that accelerating inflation across Europe has had a visible effect on beef sales.

In Britain, Kantar beef retail figures to 17 April 2022 show consumer price rises of 6.2% and sales decline of 13.8% when compared with 2021 figures. Germany and France have also seen retail sales declines of 17% and 12%.

The cost of living squeeze on consumers is affecting shopping habits, with many opting for cheaper cuts to stay within the weekly household budget.

Last week’s beef kill came in at 32,061, a drop of 400 head on the previous week.

We have seen one of the largest cow kills in recent years, with 205,580 cows killed so far in 2022, up 33,000 head on last year’s kill. The bull kill is up almost 4,000 head compared with last year.

Across the water, the British trade has improved a little this week, with R4L heifers coming in at €5.59/kg incl VAT. Cows also took a lift, with R grading cows working off €5/kg last week.

NI comment

The beef trade is steady in Northern Ireland, but factories have cut quotes by 4p/kg, with 430p/kg (€5.27/kg inc VAT) for U-3 grading animals.

Deals continue to be offered around the 450p/kg mark (€5.51/kg) for in-spec steers and heifers, with young bulls moving around 10p/kg below this.

Getting deals over 450p/kg are harder to come by and reserved for finishers with bigger numbers.

Cows are making 400p/kg (€4.90/kg) and upwards for good-quality suckler types.