Beef Trends: quotes rocket on back of big demand

Beef quotes are rising by the day, with quotes up 20c/kg in some factories in the last week, one of the fastest rises we have seen in the last number of years.

Bullocks are working off a base quote of €5.75/kg to €5.80/kg, with heifers at €5.85/kg to €5.90/kg.

Base quotes are fast becoming redundant, given the leeway and additions that agents are adding to quotes this week.

Factory bonuses, breed bonuses and in-spec bonuses are adding up to as much as 70c/kg to base quotes and that’s before any grading bonuses.

The best price I have heard of this week was for Aberdeen Angus heifers sold through the Kepak 2020 club at €6.45/kg for R grading heifers.

The trade shows no signs of abating, with factories anxious to line up supplies for the next couple of weeks.

Lighter carcases continue to be a problem for many factories, particularly in the south of the country where the numbers are there but the weight isn’t, so the volume of beef that is being processed is small.

That, coupled with higher exports and fewer farmers feeding, is causing supply issues. Agents lit up marts this week buying fat cattle, with more competition from NI in the last week also.

Flat deals

Everything is on the table, with agents willing to improve on quotes to get cattle.

Flat deals have become very popular in the last two weeks, with as high as €6.40/kg flat being paid for a big load of continental cattle this week.

Several deals have been done for O grading Aberdeen Angus heifers at €6.30/kg to €6.35/kg.

Flat prices for Friesian bullocks are ranging from €5.80/kg to €5.90/kg, depending on the numbers involved.

Cows

O+ suckler cows are generally working off €5.20/kg to €5.30/kg, while O grading dairy cows are being bought at €5.05/kg to €5.15/kg, depending on the factory.

R grading cows are being quoted at €5.40/kg to €5.50/kg and higher money is available where numbers are involved.

P+3 cows are working off €5.00/kg to €5.05/kg, depending on weight, age and flesh.

Well-fleshed U grading cows continue to command top prices of €5.60/kg to €5.70/kg and over for young, fleshed heavy cows.

Bulls

Under-24-month bulls are still working off €6.00/kg to €6.10/kg for U grading bulls and higher where larger numbers are involved.

Flat prices of €6.10/kg and over it is on the table where big numbers are involved.

R grading bulls are coming in at €5.90/kg to €6.00/kg, while O grading bulls are being bought at €5.70/kg to €5.80/kg.

Under-16-month bulls are working off a base price of €5.70/kg before any QA bonus or grid payments are added.

Last week’s kill came in at 31,026 head, with cows showing the biggest reduction of almost 1,000 head on the week before.

Last week’s kill was 4,000 head lower than the same week in January 2024 and the numbers look set to get tighter in the next few weeks.

Prices across the water have also seen a big increase, with quotes up 10p to 15p in Britain on the back of lower supplies and huge demand. Beef quotes have hit £6.00 (€7.59/kg incl VAT) in Scotland.

Last week’s British kill was back over 2,000 head on the same week in 2024, with British supermarkets reporting increases of as much as 15% in Christmas beef purchases.

NI comment

Quotes are up 8p/kg at NI plants to 524p/kg (€6.61/kg inc VAT), although they are generally from 536p to 540p/kg (€6.76 to €6.81/kg) for the main run of animals. Farmers with bigger numbers are faring 5p to 10p/kg better for a steady supply of in-spec animals. R grading cull cows are making 430p to 450p/kg (€5.43 to €5.68/kg).