Factory prices steady as beef finishers push back
The beef processors have eased their downward pressure on the prices to deliver a steadier tone to the trade for producers this week.
After three to four weeks of 'price adjustment' downward by the factories, the quoted prices for this week are unchanged, and producers are hopeful the blitz on eroding their returns has ended.
Steers are generally on a base of 740c/kg. Factories trying their hand to getting steers on a base of 730c/kg are failing badly, while some finishers are reporting 750c/kg base can be got for larger numbers this week.
"The factories are finding it tougher to get enough cattle, and finishers have been turning to the live sales at the marts, where the factory agents are having to pay over the odds to fill the void in factory requirements," explained one finisher.
"The yard cattle are drying up now and they are not coming off the grass yet. May is always a challenging month for the factories, and this year is going to be the same because the surplus of numbers are not there," they added.
The base for heifers is 750c/kg, with suppliers reporting 760c/kg is there for good heifers at factories under the most pressure to get sufficient supplies.
Finished beef animals were making €4.40 to €4.80/kg live weight at mart sales last week, where the average prices being paid were showing €100–€150/head improvement on a week earlier.
The official figures are showing an increase on the number of finished animals crossing into Northern Ireland over recent weeks to benefit from the higher prices being paid there, and inevitably pitting more pressure on the processors down south, who are losing out.
There is still a very strong trade for cows. While the cow prices did not suffer as heavy a hit as the prime beef animals, they did ease a shade over the past month. This week, the well-fleshed R-grade are making very close to the steers at 725–735c/kg, while young bulls are being quoted at 740-750c/kg.
The steadier tone to prices was anticipated for May, which is generally a more critical time of the year for the processors to source sufficient intake.
A possible further hardening on the prices at the factories over the coming weeks is anticipated as the squeeze tightens on the processors to get enough cattle, before the early supplies off the grass.
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€6.98m to be paid towards the 2024 Organic Farming Scheme balancing payments
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Factory prices steady as beef finishers push back
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