Beef trade this week: Cull cow prices ‘the highest in 13 years’ in NI
As the base price edges closer to €5.00/kg in the Republic of Ireland, quotes also remain strong further north.
According to the Livestock and Meat Commission (LMC), the beef trade “remained steady” across plants in Northern Ireland this week.
It reported that plants across the region increased cull cow, heifer, young bull (except for R3s) and steer prices this week.
In its weekly market outlook report, it stated that base quotes for in-spec U-3 grade prime cattle remained steady around the previous week’s levels of 392-420p/kg.
It reported that R-3 grade cattle varied from 386-408p/kg, while O+3 grade cattle were 380-408p/kg and farmers received 324-358p/kg for P+3s. In its report, it states that these quotes include bonuses where applicable.
Meanwhile, the trade for good quality O+3 cows also remained steady, with base quotes ending the week ranging from 280-344p/kg. The commission stressed that cull cow quotes vary depending on grades and weights and that pricing policies vary from plant to plant.
Beef trade this week
According to the LMC,
- Firstly, the average heifer price in NI last week rose by 4.6p/kg to 419.4p/kg, while the R3 heifer price was up by 3.8p/kg to 427.7p/kg;
- Furthermore, the average young bull price in NI increased by 4.8p/kg to 397.2p/kg, while the R3 young bull price was back to 410.9p/kg;
- The average steer price last week was up 4.2p/kg to 417.2p/kg, while the R3 steer price increased to 425.7p/kg, up 3.2p/kg;
- The average cow price in NI last week rose by 2.6p/kg to 322.1p/kg, while the O3 cow price strengthened by 3.9p/kg, reaching 349.7p/kg.
A spokesperson for the commission noted that NI cow prices have continued to strengthen in recent months, reporting the “highest price in 13 years”.
“Deadweight prices for heifers have strengthened across the EU in recent times. All of the price reporting countries have recorded an increase in R3 heifer prices,” they explained.