The latest figures show live exports to Spain continuing to trend well above previous years' levels.

The number of cattle exported live for the last five weeks has averaged 1,147 per week compared with a weekly average of just 256 head for the corresponding week in 2017.

Higher calf exports

Total exports for 2018 stand at 87,954 head, almost two times greater than the 49,850 head exported in the same period in 2017.

The driver underpinning this year’s increased activity is higher calf exports right throughout the year and strong exports of weanlings since mid-August.

The most recent week’s exports for the period 12 November to 18 November 2018 recorded exports of 594 calves (517 males and 77 females), 380 weanlings (288 male and 92 female), 125 stores (58 males and 67 females) and 18 animals over 21 months falling into the finished animal category.

Exports of calves have been a mixture of Friesian, Angus and Hereford types, while exports of weanlings have been similar and also included some plainer-type continental-cross bulls.

Sluggish trade

Meanwhile, the beef trade remains downbeat. The base for steers and heifers is unchanged at €3.75/kg and €3.85/kg respectively.

Some agents comment that heifers and steers under 30 months of age are moving a little easier and continue to meet the best demand.

The cow trade is the most sluggish. P+3 grading cows are quoted anywhere from €2.60/kg to €2.80/kg, while O grades range from €2.75/kg to €2.90/kg and a little higher with specialist finishers.

R grading cow quotes start at €2.90/kg, but range as high as €3.15/kg to €3.20/kg, with specialist finishers with supply arrangements again having better negotiating power.

Factories continue to manage the cow kill carefully, with some facing a long lead-in time to get cows moved.

Demand for young bulls is also slow, with factories offered more bulls as specialist finishers start to draft bulls in higher numbers.

Prices are typically averaging €3.75/kg for R grades, with U grades from €3.85/kg to €3.90/kg. This excludes bonuses secured by finishers with supply arrangements.

O grading young bulls range from €2.55/kg to €2.65/kg, with fat cover continuing to be a major determinant on prices negotiated.

Bulls less than 16 months and trading on the grid are selling on a base of €3.75/kg in most cases.

Northern trade

The trade in Northern Ireland also remains under pressure. Factories are trying to reduce base U-3 steer and heifer quotes by another 2p/kg, with prices ranging from £3.44/kg to £3.48/kg.

Sterling continues to fluctuate and at Monday evening's exchange rate of 88.3p to the euro, this equates to €3.90/kg to €3.94/kg or €4.11/kg to €4.15/kg including VAT at 5.4%.