The beef trade is finally showing signs of kicking on, with more life to agents’ quotes this week. A number of the smaller independent factories are finding it harder to source stock and have had to increase their quotes to get cattle.
The beef trade is finally showing signs of kicking on, with more life to agents’ quotes this week.
A number of the smaller independent factories are finding it harder to source stock and have had to increase their quotes to get cattle.
As always, it’s the bigger suppliers that hold the power, with some digging in for money this week and getting it.
At the top end of the market, heifers are being bought at €5.25/kg, with bullocks being quoted at €5.10/kg to €5.20/kg.
There are some factories still trying to buy bullocks at €5.00/kg, but they aren’t getting a lot at that money and most are paying out €5.05/kg at a minimum.
Heifers are mostly moving at €5.15/kg, this week with more going for bigger lots.
Foyle Meats in Doneagl has moved its quotes up to €5.20/kg for bullocks killing out between 300kg and 400kg and €5.25/kg for heifers killing out between 300kg and 400kg.
Breed bonuses have also lifted in the last two weeks. The Certified Irish Angus Group bonus moved up to 30c/kg last week for cattle booked in through the group and the Irish Hereford Prime bonus moved up to 25c/kg for cattle killed from Monday onwards.
Cows
The cow trade would be described as being very firm, with agents very active competing in marts this week for slaughter-fit cows.
O+ suckler cows are generally working off €4.55/kg to €4.65/kg, while O grading dairy cows are being bought at €4.50/kg to €4.60/kg, depending on which factory you are dealing with.
R grading cows are being quoted at €4.80/kg to €4.90/kg and higher money is available where numbers are involved.
P+3 cows are working off €4.40/kg to €4.50/kg, depending on weight, age and flesh cover.
Well-fleshed U grading cows continue to command a top price of €5.00/kg to €5.20/kg and over it for young fleshed heavy cows.
Looking at what factory agents are paying for cull cows in marts, they are getting a lot more than €5.00/kg for top cows, with closer to €5.50/kg needed to get some of these cows to break even this week.
Bulls
Under-24-month bulls are still working off a €5.35/kg to €5.40/kg base price for U grading bulls.
R grading bulls are coming in at €5.20/kg to €5.30/kg, while O grading bulls are being bought at €5.00/kg to €5.15/kg. P grading bulls are working off €5.00/kg, depending on weight and flesh cover.
Under-16-month bulls are generally working off a €5.00/kg to €5.10/kg base. The bull kill continues to operate at very low levels.
Kill figures
Last week’s kill came in at 41,141 head, a similar level to the previous week at just under 41,000 head.
The bullock kill saw a big drop of almost 900 head, the biggest drop in a number of weeks.
The 2024 kill continues to run well ahead of 2023 levels, with just over 34,000 extra cattle killed to date in 2024 compared with the same period in 2023.
Bord Bia had estimated that the 2024 kill would be substantially down on the 2023 kill, but this now looks less likely to happen, with just nine full working weeks until Christmas.
Numbers are expected to tighten a lot in the coming weeks, with prices expected to push up on the back of tighter supplies and solid demand.
NI comment
Quotes have edged up 4p/kg to a base of 478p to 482p/kg (€5.92 to €6.05/kg inc VAT) for U-3 animals.
With plants now sourcing cattle for Christmas orders, deals of 500p/kg (€6.27/kg) are widely available and 2p to 5p/kg above this for regular finishers.
Cows are a flying trade with 390p to 410p/kg (€4.89 to €5.14/kg) for suckler types.
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