The beef trade has started the week with factories anxious to get their hands on higher numbers.

But while their appetite may be stronger, there is still a reluctance to increase prices paid.

There are more sellers, which were trading at a base of €3.70/kg for steers and €3.80/kg for heifers, securing a base of €3.75/kg and €3.85/kg respectively.

Movement at the top end of the market is slow, but there are deals being completed for choice lots or where large numbers are concerned for 3c/kg to 5c/kg higher.

The potential for a marked price increase is likely to be influenced greatly by how numbers materialise over the coming week, with a largely favourable forecast reducing the pressure on some sellers to move stock.

Cows

The cow trade remains busy, with low numbers in marts not satisfying demand.

P+3 grading cows range from €3.00/kg to €3.10/kg, with O grades creeping upwards and ranging from €3.15/kg to €3.30/kg.

Heavy R and U grading cows commanded a premium even when pressure was applied on price and this remains the case, with heavy cows selling from €3.40/kg to €3.55/kg and a little higher in cases.

Bulls

Like cows, bull prices vary significantly between and even within plants.

The general prices reported for R grading bulls range from €3.75/kg to €3.80/kg, with U grades from €3.85/kg to €3.90/kg, but as high as €4.00/kg is being paid to specialist finishers.

Price comparison

An analysis of prices over the last five years is summarised in the charts below.

Steer prices are currently running 3c/kg on average behind the corresponding week in 2017, with heifer prices an average of 5c/kg lower.

Prices for the last 10 weeks are on a par to 2017 levels, with slight differences in weekly prices from year to year demonstrated in the charts.

While there is a small differential in steer and heifer prices, cows have recorded a significant reduction in price.

Prices for O3 grading cows are currently running 12c/kg behind the corresponding week in 2017.

The average price for the last 18 weeks, or since the cow trade came under pressure, was recorded at €3.09/kg, excluding VAT, 10c/kg below the same period in 2017.

This is in contrast with the previous 22-week period from the start of the year, with O3 cows averaging €3.31/kg excluding VAT or 18c/kg above the corresponding period in 2017.