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There has been some price movement in the beef trade this week, but, unfortunately for farmers, it is in the wrong direction. Beef processors indicate that supplies of finished cattle coming on to the market are, once again, exceeding demand and that sales of beef remain extremely slow.
As such, cattle agents are managing to secure animals with relative ease and some have indicated that they have adequate numbers already booked for next week.
Processors have moved to reduce quotes, with 2p to 4p/kg being wiped off base prices. This puts the range of quotes for U-3 grading animals on 330p to 336p/kg.
While quotes eased midweek, farmers selling cattle indicated that processors were still paying well ahead of base quotes, although the deals on offer over the past few weeks appear to be limited to larger finishers.
Smaller finishers offloading cattle less frequently are finding it difficult to negotiate on price above base quotes.
Steers were moving at 336p to 342p/kg earlier this week, with young bulls moving at 338p/kg for in-spec animals. As usual, heifers were faring better and moving at prices in the low- to mid-340p/kg range.
As prices ease at local plants, the beef trade south of the border continues to harden and Irish prices are now running ahead of those on offer at northern plants.
Official price reports show that U3 grading steers killed at Irish plants are typically averaging 351.3p/kg, with U3 heifers averaging 366p/kg.
Last week, the official price paid on steers and heifers processed at NI plants was steady on 338.28p/kg.
The average price paid on U3 steers increased by 0.9p/kg to 344p/kg, with U3 heifers increasing by 1p/kg to 350p/kg.
Cows
Demand for cull cows is holding relatively steady, although base quotes have also eased to 255p/kg for R3 grading animals, with O+3 cows moving from 245p/kg.
Lamb trade
The plants are cautious with lamb quotes this week, with 425p/kg offered. This makes a lamb worth £89.25 at the 21kg weight limit. The mart trade is good, with a slight improvement in prices. In Gortin, the top lambs sold to £92 to £95 a head. In Rathfriland, Tuesday evening, the average was up by 5p/kg.
In Kilrea, 250 lambs sold from 400p to 427p/kg, up by 4p for lighter lambs.
In Massereene, 464 lambs made from 400p to 427p/kg, up by 10p for heavier lambs.
In Saintfield, 411 lambs made 390p to 419p/kg, no change on last week.
In Rathfriland, 503 lambs made 403p to 429p/kg and averaged 415p, up by 5p on last week. Top price was £95 for multiple pens at 22.5kg to 24kg halfweight, while £90 was paid for 22kg and £89 for very good 21kg Texels.
Ewes
The fat ewe trade is very steady, with good top prices. Omagh sold to a top of £95 a head and in Swatragh to £134. In Massereene, the top was £103. Saintfield sold to a top of £90, with next best at £88 and £83. In Rathfriland, trade was good, with a top of £110, then £94 with plenty at £88 and £87.
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