The beef trade has been largely in Christmas mode, with purchasing delayed by the bank holiday. Plants are eager to get back to normal processing from Tuesday and agents have been busy in recent days to ensure they have a strong kill to start off the week to compensate for a day's less killing this week.

Prices remain unchanged with most dealers selling off a base price of €3.75/kg and heifers from a base of €3.85/kg.

Better deals continue to be reported for regular sellers and those handling large numbers with prices generally reported at 5c/kg higher.

There is also still lots of flexibility for what factories previously deemed out-of-spec cattle. Allowances are being given on age, weight and fat cover with most penalties being waived.

Cow Trade

The cow trade remains solid and, if anything, there is more life in it with plants active stock.

This is resulting in a wide differential in price and sellers should take note of this when moving to trade cows. P+3 grades are selling anywhere from €2.80/kg to €3.05/kg with O grades from €3/kg to €3.20/kg at the top of the market.

There is good demand for fleshed, continental cows, especially heavy-carcase young cows, with prices rising to €3.35/kg, while U grades are selling from €3.30/kg to €3.45/kg.

Bulls

R and U grade bulls are selling in the main for €3.80/kg and €3.90/kg respectively, although producers handling smaller numbers are facing prices of 5c/kg lower.

Bulls under 16 months and trading on the QPS grid are selling at a base price of €3.75/kg.

Friesian bulls are selling flat anywhere from €3.55/kg to €3.70/kg with numbers offered, fat cover (2+ or better) and negotiating power all having a big influence on potential price.

Northern Ireland

The Northern Irish trade is steady with supplies also reported as tight.

Base quotes remain at £3.44/kg to £3.48/kg but sellers are in many cases easily securing 2p/kg to 4p/kg higher while specialised finishers and regular suppliers are negotiating up to 10p/kg higher, excluding bonus payments.

Flat rate vat

The flat rate vat addition has increased to 5.4% (from 5.2%) since 1 January. The payment compensates unregistered farmers for Vat costs incurred that cannot be redeemed.