The beef trade has taken a positive turn this week, with quotes increasing by 10c/kg in some factories. It’s a reversal of recent trends, that saw beef quotes fall 85c/kg since the beginning of the year.
Bullocks have moved up to €6.30/kg in some factories, with heifers now at €6.40/kg in a number of locations.
Flat prices have also taken a jump, with €6.90/kg being paid this week for in-spec Aberdeen Angus bullocks and heifers.
Up to €6.70/kg has also been paid for under 24-month bulls this week.
With supplies tightening further in the next few weeks, more price increases are on the cards as the UK market also steadies on the back of reduced supplies.
Last week’s kill fell by 2,800 head to 27,150 head, with the kill now falling for five weeks in a row.
Agents are reporting shed cattle supplies diminishing with ample grass supplies, meaning there is no pressure on grass finishers to sell.
Agents have turned to marts again to shore up supplies, but smaller numbers in marts have meant factory supplies still remained short this week.
Burger demand
There is also some positive news on the demand side, with the latest Kantar World Panel data pointing to a 40% increase in fresh burger sales in the UK in the four weeks leading up to 14 June.
This increased demand is expected to continue with increased burger demand coupled with a World Cup barbeque bounce in the current spell of hot weather.
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