Factory quotes: Move to pull beef price continues this week
This week's factory quotes for beef cattle has seen most processors reduce their beef price offers for the second consecutive week.
The move has seen 20c/kg taken off the base price in the past two weeks.
One factory agent told Agriland he expects base price for prime cattle to move back towards €7/kg over the coming weeks.
The move to reduce prices since the June Bank Holiday weekend has come as a surprise, as overall beef kill numbers are expected to be tight. But UK and Northern Ireland beef prices are also in decline.
According to the Livestock and Meat Commission (LMC), the average deadweight prices excluding premiums in Northern Ireland for the week ending May 31 was £6.69/kg for 'U-3' grade steers and £6.68/kg for 'U-3' grade heifers. Cows grading 'O+3' averaged £5.66/kg.
Factory quotes: Heifers and steers
This week, heifers are being quoted at €7.40/kg on the grid, while bullocks (steers) are being quoted at €7.30/kg on the grid in general.
Some heifers and steers booked in since last week are managing to secure last week's prices, which are up to 10c/kg higher, but procurement bosses sound adamant the lower prices will set in across the trade.
Breed bonuses of up to 30c/kg for Angus and 20-25c/kg for eligible Hereford cattle remain available.
Cow price
Cow price has fallen again this week also, with one Co. Donegal-based outlet having also dropped its 10c/kg carcass bonus for cows.
Despite this, up to €7.30/kg is being tabled this week for 'U' grade cows, with €7.00-7.10/kg available for 'R' grade cows.
'O' and 'P' grade cows are being quoted at €6.70/kg and €6.60/kg respectively for fleshed cows with good carcass weights.
There remains plenty of variation in cow price between outlets, with some factories stronger on price than others for cows of different carcass specifications.
Bulls
Looking at under-24-month bull price quotes, 'U' grade bulls are being quoted at €7.60-7.70/kg this week, with €7.50-7.60/kg being quoted for 'R' grade bulls.
'O' and 'P' grade bulls are being quoted at €7.40/kg and 7.30/kg respectively.
Under-16-month bulls are being quoted at €7.30-€7.40/kg on the grid this week.
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