This week’s factory quotes have seen beef prices increase for the second consecutive week with supplies of finished cattle tightening and demand for beef remaining positive.
Prices had been in decline throughout May and levelled off in the final week of May. Trade has been on a positive trajectory since then.
With no deluge of factory-fit cattle expected to arrive any time soon and demand for beef looking good, the trade appears set to remain in a positive position, for the short-term at least.
Factory quotes for heifers and steers
Heifers are being quoted at €5.15/kg on the grid this week at most outlets with lower quotes failing to secure any significant numbers of heifers.
The first of the traditional-breed heifers are slow to come fit off grass and the cold conditions continuing this month will do little to speed up cattle thrive at grass.
Bullocks (steers) are being quoted at €5.10/kg on the grid this week, up 5c/kg from the €5.05/kg that many of these outlets were quoting last week.
Cow price
Cow prices have also seen a lift this week with some procurement staff reporting cows are starting to arrive off grass but with no major concerns around flies or mastitis yet due to cold conditions, there is no major rush of cull cows arriving to factories.
U grade cows are being quoted at up to €5.10/kg at the higher-end of the price scale. In the week ending Sunday, June 2, up to 5.25/kg was paid for U grade cows.
R-grade cows are being quoted at €4.75/kg but looking at the prices reported to the Department of Agriculture, Food and the Marine (DAFM), it clearly demonstrates that more money is available.
In the week ending Sunday, June 2, the average price paid for R=3= cows was just under €4.90/kg.
O grade cows are being quoted at €4.45-4.55/kg with P grade cows being quoted at €4.35-4.45 being quoted for P grade cows.
Again, more money is available for O and P grade cows with carcass weights above 270kg and suitable fat covers.
Bulls
Under-24-month bulls are being quoted at prices ranging from €5.25-5.35/kg for U grade bulls with €5.15-5.25/kg being quoted for R-grade bulls. Again, more money is available for bulls with the prices reported to DAFM demonstrating this.
The chart below shows the prices paid for U=2+ grade bulls by factory in the week ending Sunday, June 2.
As the table above demonstrates, there is a significant difference between factories in the prices being paid for bulls.
O grade bulls are being quoted at €5.05/kg on the grid with P grade bulls being quoted at €4.95/kg.
Under-16-month bulls are being quoted at €5.10/kg on the grid.