An update on beef prices in NI (Northern Ireland) from the Livestock and Meat Commission.
The deadweight cattle trade in Northern Ireland is continuing to improve as the weeks progress.
Base quotes ranged from 366-378p/kg for in-spec U-3 grade prime cattle this week, according to the Livestock and Meat Commission (LMC).
The majority of plants are quoting 370- 378p/kg for steers and heifers with similar quotes expected for early next week.
“With the range of quotes available, producers are encouraged to shop around to get the best possible deal for their cattle.” the LMC explained.
“Quotes for good quality O+3 grading cows this week ranged from 260-272p/kg. Prime cattle throughput in NI last week totalled 6,167 head, a 127 head increase from the previous week when prime cattle throughput totalled 6,040 head.”
In the same week in 2020, the prime cattle throughput in NI totalled 7,072 head.
Cow throughput in NI last week totalled 1,952 head back slightly from the previous week. In the corresponding week in 2020, cow throughput in local plants totalled 2,181 head.
Imports of cattle from ROI for direct slaughter last week included 95 prime cattle and 69 cows with no cattle imported from GB to NI last week for direct slaughter in local plants.
Meanwhile, exports from NI to ROI for direct slaughter last week consisted of three heifers and 58 cows with no cattle making the journey from NI to GB for direct slaughter last week.
“The NI deadweight cattle trade strengthened last week across the majority of grades.”
NI beef prices
The average steer price in NI last week increased by 5.5p/kg to 373.5p/kg with the R3 steer price increasing 4.4p/kg to 382.1p/kg.
In the corresponding week in 2020, the R3 steer price was 340.3p/kg. The average heifer price in NI last week was up 5.6p/kg to 376.1p/kg, while the R3 heifer price was up almost 7p/kg to 384.2p/kg.
In the same week in 2020, the reported R3 heifer price was 341.1p/kg. The deadweight cow trade improved in NI last week with the average cow price increasing by just over 6p/kg to 252.5p/kg. Meanwhile, the O3 cow price increased by 3.3p/kg to 277p/kg.
In GB, the deadweight cattle trade also firmed across all the regions from the previous week.
The average steer price increased by 5.4p/kg to 378p/kg while the R3 steer price was up just over 3p/kg to 381.8p/kg.
The average heifer price in GB last week reported an increase of 4.6p/kg to 376.9p/kg, while the R3 heifer price in GB increased by 3.2p/kg to 381.7p/kg.
In the corresponding week in 2020, the GB R3 steer price was 339.4p/kg with the R3 heifer price reported at 339.7p/kg.
The O3 cow price last week in GB increased by 4.8p/kg to 266.8p/kg. This is just over 10p/kg below the NI O3 cow price.
Republic of Ireland
In ROI, last week the majority of cattle prices increased in euro terms.
“However, a weakening in the euro against sterling has resulted in the majority of cattle prices decreasing in sterling terms from the previous week.”
“The R3 steer price in ROI last week was back by the equivalent of 0.4p/kg to 340.5p/kg. Also, the R3 heifer price last week was 345p/kg, back the equivalent of half-a-penny and 39.2p/kg below the R3 heifer price in NI.”
In the same week in 2020, the reported ROI R3 steer price was the equivalent of 309.3p/kg with the R3 heifer price the equivalent of 315.4p/kg.
For updates on beef prices, click here.