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Downward price pressure currently facing the beef trade has filtered through to livestock marts across the country, with average prices easing by 10p/kg to 15p/kg on previous weeks.
On a 550kg store animal, this reduces the sale value by £55 to £83/head.
Based on Irish Farmers Journal MartWatch data, the average price paid on U-grading steers weighing 500-600kg was 196p/kg over the past week, down from 207p/kg in late November.
Prices on average-quality, R-grading animals was 173p/kg, down 17p/kg on previous weeks.
Store heifers weighing 400-500kg fell 10p/kg to 191p/kg for U-grading types, with R-grading animals down 16p/kg to an average of 167p/kg.
Weaker demand
With factory prices under pressure and delays in getting cattle slaughtered, mart managers maintain that feedlots are still carrying large numbers of cattle purchased earlier this autumn.
Therefore, until these animals can be offloaded, finishers are reluctant to buy in additional cattle for feeding.
Smaller numbers
Mart managers also indicate that recent sales are much smaller in size. While it is normal for cattle numbers to tail off towards the end of the year, indications are that farmers are holding cattle until the new year in the hope of improved buying demand.
Base quotes on U3 cattle have slipped by 4p/kg to 6p/kg this week, with most plants quoting 340p/kg. With cattle supply running ahead of demand, factory agents indicate they have adequate numbers booked for next week and over the Christmas period.
EU beef prices
During November, R3 heifer prices paid by NI plants were the fifth highest across EU member states at an average of 356.9p/kg, significantly higher than the EU average of 339.5p/kg. Britain paid the highest heifer price of 370.6p/kg, although so far in December prices have dipped below top prices in Italy.
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