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There are few positives to be found in the beef trade this week, as processor demand for cattle has weakened considerably.
With some plants still operating on a four-day week, backlogs of cattle continue to build, which further adds to the oversupply of animals coming on to the market.
Cattle agents and processors are all reporting a similar situation, in that sales of beef are extremely slow across the UK, and, as a result, fewer animals are needed each week to fill orders.
Reports are also more common that beef is entering cold stores to partly alleviate pressure on the market and as a safeguard to a no-deal Brexit.
With a sluggish trade, plants have moved swiftly to cut base quotes by 4p to 6p/kg, with several plants reluctant to quote for next week.
This brings the range of quotes to 330p to 336p/kg on U-3 grading steers, with heifers faring marginally better on a top quote of 340p/kg.
The gap between base quotes and prices being paid has narrowed significantly.
Deals of 340p to 344p/kg are being reported and agents indicate that animals are moving freely at this level.
With delays in getting cattle processed, there has been an increase in the numbers of heavy cattle moving through marts as farmers look to offload animals before they fall outside of market spec.
Last week, the average price paid on steers and heifers was down marginally to 342.26p/kg.
The average price on U3 steers fell by 1.2p to 348.4p/kg, with U3 heifers unchanged on 354.1p/kg.
Steer and heifer prices are running approximately 2p/kg ahead of EU averages for U grading animals.
Cows
The cull cow trade has eased, with official quotes on R3 grading animals down 6p to 240p/kg and O+3 cows on 230p/kg. The average price on R3 cows was 259.4p/kg last week, indicating there are still deals on offer.
Hogget trade
The hogget trade has eased a little this week, with one plant taking 5p/kg off base quotes.
This puts the top quotes at 425p/kg, making a hogget worth £93.50 at the 22kg limit.
In the marts, the number of hoggets on offer was down significantly on last week. Trade was relatively unchanged or down marginally.
Kilrea sold 300 hoggets from 399p to 446p/kg, no change on last week for the main weight range.
Massereene sold 642 hoggets from 380p to 410p/kg, down by 5p/kg on last week.
Saintfield sold 351 head from 381p to 438p/kg, no change on last week.
In Rathfriland, only 300 hoggets were on show and made from 360p to 429p/kg and averaging 378p/kg, down by 8p/kg on last week.
In Lisahally, the show was small, with top prices of £100 and most in the range of £90 to £95/head.
Ewes
The fat ewe trade in the marts is firm this week, with increased top prices. The top in Omagh was £100 and in Swatragh, it was £119. The top in Massereene was £129 and in Kilrea, ewes sold to £115. In Saintfield, the top was £98 and in Rathfriland, it was £102.
In Ballymena, Suffolk ewes with twin lambs at foot sold to £215 and Texels with twins sold to £200. Springing Cheviot ewes made from £156 to £165 with Suffolks at £154 and Blackface at £152.
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