There’s fresh bite in the beef trade this week, with factory agents becoming increasingly more interested in what cattle are coming on stream from finishers’ yards.
All sorts of deals are also being put on the table, especially more towards the north of the country, where there appears to be more competition among factories to source weekly supplies.
Flat prices of €5.35/kg have been paid this week for good numbers of continental heifers along with haulage being paid.
If an animal kills out at 300kg dead, that’s the equivalent of almost 7c/kg on a €20/head haulage charge.
There is also some leeway on breed bonuses being paid in factories, with as high as 30c/kg of an Aberdeen Angus bonus being paid to some farmers with good numbers of in-spec animals this week.
There is a range in bullock quotes from €4.95/kg to €5.00/kg, while heifers are working off €5.00/kg to €5.05/kg and, as always, bigger numbers leads to better prices.
Flat deals continue to be worked out for Aberdeen Angus heifers, with €5.35/kg to €5.45/kg still available for good numbers of in-spec heifers under 30 months.
Foyle Meats in Donegal continues to be out in front for quotes for cattle killing out between 300kg and 400kg.
It is quoting €5.10/kg base price for bullocks and €5.15/kg for heifers killing within the specified weight range.
Agents are also very slow to let any cattle slip through their hands and are willing to negotiate on price when they meet a tough customer. The advice is to sell hard.
Prime cattle numbers are tightening and speaking to a number of finishers this week, they feel that cattle at grass have done a big thrive in the last two weeks, with a flush of grass helping thrive.
The push for earlier slaughter with specific reference to dairy beef animals has taken away the threat of the 30-month slump in price taking place from August onwards.
Looking at factory agents paying the equivalent of €5.50 and €5.60/kg this week for forward stores would also inject some confidence into the trade.
U grading bulls are trading for as high as €5.30/kg, while some farmers with O grading bulls have managed to squeeze €5/kg this week out of some agents.
Cows
R grading cows are working off €4.70/kg to €4.80/kg. O+ suckler cows are generally working off €4.40/kg to €4.60/kg, while O grading dairy cows are being bought at €4.30/kg to €4.40/kg.
P+3 cows are working off €4.10/kg to €4.20/kg, depending on weight, age and flesh.
The mart trade is still a good option for farmers with smaller numbers of cows, with agents still very active for heavy cows.
Speaking to the Irish Farmers Journal, IFA livestock chair said: “Factories are very anxious for supplies and farmers should sell hard and price around to get the best price. Farmers should accept initial quotes from agents as they are prepared to pay more when pressure is applied.”
Beef quotes across the water continue to be steady, with R4L bullocks coming in at 485p/kg (€6.10/kg incl VAT) in the last week.
Prime cattle supplies continue to be tight, with last week’s kill dropping by 891 head.
According to HMRC, imports of Irish beef are up 13% on 2023 levels, with a total of 87,484t of Irish beef imported to the UK so far in 2024.
NI comment
Quotes from factory buyers for clean cattle are up again this week, with 6p/kg added to the top base quote, taking it to 470p/kg (€5.90/kg incl VAT) for U-3 grades. Others are still offering base quotes as low as 460p/kg (€5.78/kg incl VAT).
However, much more is available, with 486p to 488p/kg (€6.11 to €6.14/kg incl VAT) generally being paid for steers and some reports of slightly over 490p/kg (€6.16/kg incl VAT) going for heifers suitable for the butcher trade.
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