Factory quotes: Beef prices cut for third consecutive week
Weekly kill numbers are low – remaining below 30,000 head – with this decline being caused by a reduced cow kill as heifer and steer (bullock) supplies remain firm for the time of year.
Factory sources have informed Agriland that there is a push to get base prices back towards €7.00/kg, but farm lobby groups have hit out at the move by factories to reduce prices.
UK beef prices have also been in decline in recent weeks with the average deadweight 'U3' steer price, excluding premiums, at £6.59/kg in the week ending Saturday, June 7. This price was down from £6.69/kg the previous week, according to the Livestock and Meat Commission (LMC).
Factory quotes: Heifers and steers
This week, most outlets are quoting €7.20/kg for steers and €7.30/kg on the grid for heifers.
While these are the official quotes for this week, most outlets that had cattle pre-booked are paying €7.30/kg and 7.40/kg on the grid for these steers and heifers respectively.
Despite this, procurement staff have said the reduced price rates will take hold and have not ruled out further price cuts in the coming weeks.
Breed bonuses of up to 30c/kg remain available for eligible Angus heifers and steers, but most outlets are paying an Angus bonus of 20-25c/kg.
The Hereford breed bonus is at 15c/kg at most sites this week, with some outlets offering less and others offering more.
Cow price
'U' grade cows are being quoted at up to €7.20/kg at the higher-end of the scale, with offers of €6.90-7.00/kg more common.
'R' grade cows are being quoted at up to €7.00/kg, with €6.80-6.90/kg more common offers for these.
'O' grade cows are being quoted at €6.50-6.60/kg and 'P' grade cows are being quoted at €6.40-6.50/kg.
There remains considerable variation in cow price even within grades, depending on cow carcass weight and specification.
Bulls
Under-24-month bulls are being quoted at €7.40-7.50/kg for 'U' grades, with 'R' grade bulls being quoted at €7.30-7.40/kg.
'O' grade bulls are being quoted at €7.20-7.30/kg and 'P' grade bulls are being quoted at €7.10-7.20/kg.
Under-16-month bulls are being quoted at €7.20/kg on the grid.
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