This week’s factory quotes have seen further beef price increases across the board as prices continue to surge to new highs.
Storm Éowyn hit the country on Friday morning (January 24) and caused a significant amount of damage to property and services with many areas of the country still without power.
While most factories have managed to get back to slaughtering livestock today (Monday, January 27), procurement staff are noting that poor phone signal as a result of the power outages is causing major issues with contacting farmer suppliers in some areas.
Many outlets had no kill on Friday, due to the storm with other factories running half-day kills from mid-day onwards when the worst of the storm had passed.
Factory quotes: Heifers and steers
Heifers are being quoted at €6.00/kg on the grid this week in general, with some outlets opening negotiations at €5.90/kg on the grid.
Steers (bullocks) are being quoted at €5.85-5.95/kg on the grid with €6.00/kg on the grid being secured in some cases also.
All-in prices for R grade in-spec Angus heifers and steers are approaching €6.80/kg at the higher end of the price scale.
This week’s opening price offerings have increased by up to 20c/kg from last Monday at some outlets and the trade remains highly volatile with prices trending upwards to date.
Cows
Fleshed P grade cows are being quoted at €5.20/kg for this week with €5.30/kg quoted for O grade cows. €5.50-5.60/kg is being quoted for R grade cows with €5.80/kg tabled for R grade cows at the higher-end of the price scale. U grade cows are being quoted at up to €5.90/kg.
Some farmers are managing to secure higher prices for cows with deals available in many cases and procurement staff willing to negotiate to secure supplies.
Bulls
Under-24-month bulls are being quoted at €6.30/kg for U grades with €6.20/kg quoted for R grades. O grade bulls being quoted at €6.00/kg with €5.90/kg quoted for P grade bulls.
There is some variation in bull prices between outlets with price offerings at some outlets up 20c/kg on last week in the bull category also.
Under-16-month bulls are being quoted at €5.90/kg on the grid with higher rates secured in several cases also.