The beef trade is ending 2023 on a high as factory prices for finished cattle continue to edge upwards.
Most factories have added 2p/kg to quotes, bringing U-3 grading animals to an official base of 454p/kg, the highest these base quotes have been for 12 weeks.
However, initial quotes remain 25p/kg to 30p/kg below the deals on offer, as factory agents continue to chase supplies.
Most reports indicate 474p/kg is widely available for in-spec steers and heifers. Farmers selling on a more regular basis and those handling bigger numbers indicate 480p/kg is being offered.
At the upper end of the market, 484p/kg has been reported to encourage farmers to kill before the end of the year.
New payment
These cattle will miss out on the new Beef Carbon Reduction Scheme, which kicks in from January, starting off at £20/head for prime NI cattle slaughtered at under 30 months.
However, it is worth remembering that this money will not be paid out by DAERA until the spring of 2025.
Cull cows are not eligible for the new payment and remain a steady trade, with R-grading animals making 335p/kg to 340p/kg.
Lambs
In the sheep trade, marts continue to offer very competitive returns for fat lambs, compared to selling direct for slaughter.
Prices are generally up £2 to £3/head this week, with £123 to £127 regularly paid for 23.5kg to 25kg. At the top of the market, £130 is being paid for heavier lots.
Factory quotes remain on 535p/kg to 22kg, but deals of 540p/kg are on offer to 22.5kg, with 550p/kg paid to 22kg.
Read more
SCEP payments worth average of €2,800 begin for 15,000 farmers
Beef prices: quotes increase as prime cattle supplies dry up
The beef trade is ending 2023 on a high as factory prices for finished cattle continue to edge upwards.
Most factories have added 2p/kg to quotes, bringing U-3 grading animals to an official base of 454p/kg, the highest these base quotes have been for 12 weeks.
However, initial quotes remain 25p/kg to 30p/kg below the deals on offer, as factory agents continue to chase supplies.
Most reports indicate 474p/kg is widely available for in-spec steers and heifers. Farmers selling on a more regular basis and those handling bigger numbers indicate 480p/kg is being offered.
At the upper end of the market, 484p/kg has been reported to encourage farmers to kill before the end of the year.
New payment
These cattle will miss out on the new Beef Carbon Reduction Scheme, which kicks in from January, starting off at £20/head for prime NI cattle slaughtered at under 30 months.
However, it is worth remembering that this money will not be paid out by DAERA until the spring of 2025.
Cull cows are not eligible for the new payment and remain a steady trade, with R-grading animals making 335p/kg to 340p/kg.
Lambs
In the sheep trade, marts continue to offer very competitive returns for fat lambs, compared to selling direct for slaughter.
Prices are generally up £2 to £3/head this week, with £123 to £127 regularly paid for 23.5kg to 25kg. At the top of the market, £130 is being paid for heavier lots.
Factory quotes remain on 535p/kg to 22kg, but deals of 540p/kg are on offer to 22.5kg, with 550p/kg paid to 22kg.
Read more
SCEP payments worth average of €2,800 begin for 15,000 farmers
Beef prices: quotes increase as prime cattle supplies dry up
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