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The cattle trade looks to have bottomed out and prices have now turned a corner, as more farmers report improved price deals on offer.
Although price increases are small and gradual, the upward momentum in the trade over the past fortnight is being welcomed by farmers.
Base quotes are slowly hardening, with several plants adding 2p/kg to their official quote this week on prime cattle.
The cow trade is also much more competitive, with base quotes rising by 5p/kg at some plants.
Prime cattle are now on a base of 332p to 336p/kg for U-3 grading animals. However, farmers report that most cattle agents are working off 336p/kg as a starting price on prime cattle, with out-of-spec animals priced at the lower quote.
With supplies of cattle tightening, farmers are finding they have more room to negotiate on price.
Deals of 340p to 342p/kg are being reported on steers and young bulls, with an additional 2p/kg on offer where larger numbers are being offloaded.
Deals on heifers are widely available, with reports of 346p to 348p/kg for regular sellers. Prices over 350p/kg have been offered to finishers on supply arrangements and have a regular flow of cattle coming on to the market.
Last week, the average price paid on steers and heifers increased by 0.9p to 334.72p/kg. The average price paid on U3 steers increased by 2.4p/kg to 341.1p/kg, with heifers up 1.9p/kg to 346.7p/kg.
Cattle imported from the Republic for slaughter at NI plants fell to 176 head as prices start to harden south of the border, although the Easter holiday period will also have had an effect.
Cows
Plants are much more active for cull cows and base quotes on R3 animals increased to 260p/kg. However, deals are on offer well ahead of quotes.
Farmers report prices of 275p to 280p/kg on offer for good-quality cows with more on young, continental animals.
Hogget and lamb trade
The hogget and lamb trade is steady at the plants, but improving in the marts.
Quotes at the plants are at 445p/kg, making a hogget worth £97.90 at the 22kg weight limit. Spring lambs are on a base of 485p/kg, worth £101.85 at a 21kg carcase limit. However, as demand in the marts is firm with rising prices, deals will be on offer at meat plants.
Massereene sold hoggets from 400p to 430p/kg. Spring lambs made from 450p to 500p/kg. Kilrea sold spring lambs from 435p to 495p/kg.
In Saintfield, the trade in hoggets was sharp, with prices from 330p to 416p/kg.
Texels at 28.6kg made £97.50, with 27.3kg to 28.5kg lots making £96 and £97 per head.
Spring lambs made from 430p to 500p/kg. A pen of lambs at 25.3kg made £105 with 22.5kg lambs at £104 and £102.
In Rathfriland, there was a great trade for both hoggets and lambs. Some 100 hoggets sold from 350p to 400p/kg, averaging 386p/kg, up 17p/kg on last week. There were 176 spring lambs making from 451p to 525p/kg, averaging 473p/kg, up by 29p/kg on last week.
Lisahally sold butchers’ lambs to £109/head, with a big run from £103 to £107.
Ewes
The fat ewe trade is holding firm, with good top prices being paid. Newtownstewart sold to a top of £110 with £107 paid in Omagh and £127 in Swatragh.
In Massereene, the top was £96 and in Saintfield, it was £110.
Rathfriland sold 128 ewes to a top price of £107, with a run from £96 to £104 each.
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