The average price paid for U3 grading heifers in 2018 was 364.7p/kg, with U3 steers averaging 361.3p/kg, price reports complied by the Livestock and Meat Commission (LMC) indicate. This puts heifer prices slightly ahead of those paid in 2017, whereas the average price paid for steers during 2018 was lower compared to the previous year.

In 2017, U3 heifers averaged 363.9p/kg while in 2016 they averaged 334.1p/kg. However, prices remain a long way off their record levels of the 376.9p/kg paid for U3 grading animals in 2013.

In contrast, 2018 steer prices are down by close to 1p/kg from the 362.2p/kg average for 2017. As with heifers, steer prices reached record levels in 2013 with a yearly average of 371.3p/kg.

Young bulls were an extremely difficult trade towards the end of 2018 and prices over the year averaged 351.8p/kg, 13p/kg less than heifers and almost 10p/kg less than steers. Bulls averaged 353.7p/kg in 2017.

Prices for R3 grading cows averaged 296.3p/kg in 2018, up 5p/kg on the 291.4p/kg paid during the previous year. However, the cow trade has seen significant downward pressure in recent weeks.

Britain

Comparing local prices with those on offer in Britain, U3 grading steers in Britain averaged 381.1p/kg in 2018 with U3 heifers at 386.44p/kg.

This means a 380kg U3 steer slaughtered in Britain was worth an additional £73 compared to a similar animal slaughtered in NI. Gaps in prices down the grades are significantly less.

Current trade

With plants returning to normal kill schedules after the holiday period, there is little change in the local trade although there are some signs that prices have firmed a little, with one plant increasing its base quote by 2p/kg.

This brings base prices for steers to 342p/kg with heifers on 344p/kg, with deals of 2p to 10p/kg over base price on offer for finishers with bigger numbers.

Hoggets

The sheep trade has started 2019 on a more positive note, with factories increasing base quotes for hoggets by 10p/kg, bringing them to a starting price of 415p/kg.

With supplies limited and marts re-opening this week, deals of 420p/kg were being offered to secure numbers midweek.

Mart sales held on Monday saw hoggets making £95 at the top end of the trade.

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