This week’s factory quotes have seen as much as 10c/kg in some cases added to beef price, with strong demand continuing and returns to farmers growing across the board.
With just three weeks remaining until Christmas, market returns for beef have now surpassed record levels and confidence in the trade remains high amongst both processors and beef finishers.
With prices for finished beef cattle continuing to rise, this is filtering down into price positivity for all types of store cattle with farmers returning to the mart to buy stock with plenty of buying power.
The trade for store cattle is also being helped along by the strong export-buyer activity and the numbers of Irish weanlings, stores and adult cattle being bought for overseas markets at record levels also.
Factory quotes: Heifers and steers
Heifers are being quoted at €5.40-€5.45/kg on the grid this week, while steers (bullocks) are being quoted at prices ranging from €5.35-€5.40/kg on the grid.
In-spec R- grade heifers are coming into approximately €5.65/kg this week, while steers of the same spec are coming into approximately €5.60/kg before any breed or processor sustainability bonuses are added on to prices.
Prices for prime cattle have increased by up to 40c/kg in the past eight weeks, and while the trend seems to have taken both procurement staff and beef finishers by surprise, the price positivity is a welcome development for farmers with finished beef cattle to sell.
Cow price
The higher-end of cow price quotes have remained relatively steady this week however the higher price rates on O and P grade cows will be more widely available this week.
The table below details the weighted average prices per kilo in c/kg including VAT for cows in the week ending Sunday, November 24:
Fat score/
GradeE U R O P Weighted
Avg.1 500 502 453 369 375 2 560 522 511 485 445 457 3 540 529 514 484 465 483 4 530 523 513 485 468 494 5 523 508 481 475 498 Weighted
Avg.542 526 512 484 430 458
U grade cows are being quoted at up to €5.30/kg this week, with €5.00-5.10/kg being quoted for R grade cows in general this week.
O grade cows are being quoted at €4.80-4.90/kg and P grade cows are being quoted at €4.70-4.80/kg.
As the table above indicates, higher rates are being paid for cows in cases and as the data in the table above is from two weeks ago, it can be assumed that average prices have moved upwards since then.
Bulls
Under-24-month bulls are being quoted at €5.65-5.70/kg for U grades in general this week with €5.55-5.60/kg being quoted for R grade bulls.
O grade bulls are being quoted at €5.45-5.50/kg and P grade bulls are being quoted at €5.35-5.40/kg.
Under-16-month bulls are being quoted at €5.40/kg on the grid this week.