Beef processors have moved to apply pressure to the trade this week, with some processors dropping quotes by as much as 20c/kg for Monday morning quotes.

Bullocks have dropped to a €7.20/kg base price, with heifers now also being bought at €7.30/kg base price.

There are still bullocks being sold at €7.30/kg base price and heifers moving at €7.40/kg base price, but this is on the back of deals done last week and any new quotes appear to be holding tight to the lower base prices.

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Cows

Cows haven’t dropped as much as prime cattle, with factories still hungry for fleshed cows.

P+3 cows are coming in at €6.40/kg to €6.60/kg. Good O grades with flesh are still making €6.60/kg to €6.70/kg, with quality R grading cows coming in at €6.70/kg to €6.90/kg and a little above it in some locations.

Well-fleshed U grading cows are still coming in at €7.10/kg in some factories this week.

The mart is probably still the place to go if you have small numbers of cows.

The run-up to Christmas always sees demand drop a little for cows, as processors concentrate on prime beef.

Bulls

The trade in young bulls also eased back.

The going rate being offered for R and U grades is in the region of €7.30/kg to €7.40/kg, while P and O grading bulls are coming in at €7.10/kg to €7.20/kg.

Under-16-month bulls are working off a base price of €7.10/kg to €7.20/kg this week before any grading or in-spec bonuses are applied.

Irish Farmers' Association livestock chair Declan Hanrahan said demand for beef is strong in our key export markets in the lead into Christmas.

He said: “Despite gamesmanship from factories here in attempting to talk down prices, the reality is reduced supplies of beef cattle are leaving factories struggling to fill orders for key customers for the Christmas period.

“The Bord Bia-compiled prime export benchmark price has strengthened in recent weeks, driven by a strong and steady UK beef price and a rising EU beef price reflecting positive market conditions in our key export destinations.

"Farmers with suitable cattle for processing should not be misled by unfounded negativity from factories and their agents.”