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There is significant upward movement on beef prices this week, as processing plants grow increasingly concerned over the supply of finished cattle.
Base quotes increased by 8p/kg to 330p/kg on offer for U-3 grading animals. However, as supplies of finished animals dwindle, base quotes are running short of the prices of offer.
Farmers report that 340p/kg is widely available on steers and young bulls. More regular finishers have secured anywhere from 4p to 10p/kg more for in-spec animals.
Heifers are highly sought after, with cattle agents scouring the country for numbers and deals of 350p to 355p/kg have been reported.
Up to 360p/kg has been offered at the very top of the market where bigger numbers are being offloaded.
Such is the scarcity of cattle at present, farmers are being approached by cattle agents from different plants keen to bid on stock.
With farmers in a strong position to negotiate on price, there is a multitude of deals on offer. Faring best are farmers with a steady supply of prime cattle under 400kg carcase weight moving from the farm of origin direct to slaughter.
Beef prices have risen by 30p to 40p/kg in the past month, adding as much as £152 to a 380kg carcase. This brings NI cattle broadly in line with prices being paid in Britain, which are also on the rise.
Last week, the average price paid across all grades of steers and heifers averaged 322.86p/kg in NI, a rise of 4.8p/kg on the week.
Benefitting most was U3 grading steers, rising by just over 7p/kg to 331.7p/kg. Prices on U3 heifers rose by 1.7p to 332.3p/kg.
Cows
Demand for cull cows is rising and with key customers such as McDonald’s reopening, processors are extremely active for manufacturing beef.
Quotes have risen by 5p to 255p/kg on R3 cows, but deals of 280p to 300p/kg are common.
Lamb trade
The market for spring lambs has hardened and prices quoted have increased by 20p to 500p/kg. At this price, lambs are worth £105 at the 21kg weight limit.
In the marts, the trade was firm, with Swatragh selling 240 spring lambs from 430p to 521p/kg on Saturday.
Early this week, the trade improved again. Kilrea sold 180 spring lambs from 457p to 490p/kg, while in Massereene, 242 spring lambs made 460p to 510p/kg, up by 20p/kg on last week.
The trade moved again on Tuesday and a great trade in Rathfriland saw 380 spring lambs making from 485p to 540p/kg, up by 40p to 50p/kg on last week. The top price per kilo was for 20kg lambs at £108/head. Lambs at 19.2kg made £103 and lambs in the range of 21kg to 23kg made from £114 to £116/head.
The hogget trade is almost at an end, with quotes at 450p and 460p/kg for decent hoggets. In the marts, Omagh sold 64 hoggets from 411p to 483p/kg.
Ewes
Fat ewes are a good trade. Omagh sold ewes to £114 and Swatragh sold to £163. In Kilrea, ewes made £98 and in Massereene, top price was £116. In Rathfriland, the top price was £112 with a big run from £80 to £100/head.
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