After a number of weeks of pulling quotes, the slow fall appears to be coming to a slow stop in beef pricing circles.

Quotes are back another 10c/kg this week but most agents are signalling that this could be the end to the cuts, with factories looking ahead to tightening supplies and getting enough cattle as they prepare for the Christmas market.

Quotes for bullocks are working off €7.10-€7.20/kg, with heifers moving at €7.20-€7.30/kg.

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Agents are being told to quote the lower prices, but when pressure is applied most have the leeway to increase the quote by 10 cent/kg – especially where numbers are involved.

Some are signalling a move to €7/kg for next week, while more say factories are undecided as to where to pitch next week’s quotes. Larger feeders and groups are trading anywhere from 10-40c/kg above these quotes, so it’s a two-tier market at the moment.

Some factories are sticking to their guns on the 30 day rule on getting cattle slaughtered after a mart purchase, and this has taken some buyers out of play in marts, but others are still buying away regardless.

The mart trade remains very strong for finished cattle, especially for out of spec stock.

Aberdeen Angus premiums have also taken a hit in the last few weeks, with most agents now quoting 20 cent/kg of a bonus payment for in spec Aberdeen Angus cattle.

There are some still paying 25c/kg. Top of the market on Hereford bonuses remains at 20c/kg.

Cows

The cow trade has also steadied this week, with prices relatively unchanged from last week.

R grading cows are generally trading at €7.00/kg to €7.10/kg, while O grading cows are coming in around €6.80/kg to €6.90/kg, depending on weight and flesh cover.

P+3 grading cows are back to €6.40/kg in some locations, but €6.50/kg is still available, especially where numbers are involved. Agents are still very active in marts hoovering up any slaughter fit cows.

Manufacturing beef is still moving well in markets, with some of the more expensive cuts a little harder to shift in recent weeks.

Bulls

Up to €7.40/kg is still available at the top end for U grading bulls where numbers are involved, working back to €7.20/kg to €7.30/kg for O grades.

Under-16-month-old bulls are working off a base price of €7.10/kg, with a little more going to those with numbers.

Irish Farmers Association Livestock chairman Declan Hanrahan said “Factories must reflect the improving market conditions in our key markets in higher beef prices.

Farmers should not be misled by unfounded negativity from factory agents or attempts to lower quotes.

All factories are having to pay 10-20c/kg above quotes to secure enough cattle to fill their lucrative orders, with some already starting to plan for the Christmas trade.

Bord Bia has predicted supplies to be back by almost 100,000hd this year, forcing factories to compete strongly for what will be available over the coming months”

Prices across the water have steadied and even increased in some locations over the last week. AHDB are reporting R4L bullocks coming in at 652p/kg (€7.88/kg incl VAT) with R4L heifers trading at 650p/kg (€7.85/kg incl VAT).

Numbers of finished cattle remain tight across the water, with many processors plugging gaps with mart purchased cattle.

The Euro/Pound sterling exchange rate moving to 87p/€1 has added some pressure to the Irish export business.

NI Comment

The NI market continues to trade about the British market and the Irish market with in spec cattle hitting as high as 658p/kg (€7.98/kg incl VAT).

Finished cattle remain in short supply with some agents indicating a higher price coming down the line.