Update on beef prices: February 2022.
According to the Livestock and Meat Commission (LMC), planted across Northern Ireland this week (February 2022) increased heifer, steer and cull cow prices.
Its weekly outlook market report states that base quotes for in spec U-3 grade steers and heifers ranged from 388-396p/kg.
The commission expects quotes to improve by 2p/kg next week.
In the same week last year, most processors were quoting 366-378p/kg for U-3 grade steers and heifers.
Quotes for O+3 grading cows improved, ranging from 260-294. Again, it expects quotes to improve by 6-20p/kg next week.
February 2022 beef prices
According to the LMC, last week:
- The average steer price in NI fell by 0.5p/kg to 396.5p/kg, while the R3 steer price was back by a penny to 404.8p/kg;
- The average NI heifer price last week dropped by 1.3p/kg to 397.8p/kg, while the R3 heifer price decreased by 0.2p/kg to 405.6p/kg;
- Meanwhile, the average young bull price rose by 0.8p/kg to 376.8p/kg, while the R3 young bull price decreased by 0.1p/kg to 388.2p/kg;
- Meanwhile, the cow trade in NI last week “firmed” with the majority of price reported grades up from the previous week;
- The average cow price rose by 1.8p/kg to 277.1p/kg while the O3 cow price fell by 0.4p/kg to 303.6p/kg.
Read about the previous week’s prices.
Throughput and exports
Its weekly market outlook reports outline that the throughput of prime cattle in NI plants last week amounted to 7,474, up 234 head from the week prior.
In the same week in 2021, prime cattle throughput totalled 6,834. Meanwhile, cow throughput in NI last week fell by 88 head to 2,321 head from the previous week.
However, this is an increase of 358 cows from the corresponding week last year when plants processed 1,963 cows.
Prime cattle imported from ROI for direct slaughter in NI last week increased to 218, and 105 cows were also imported.
Furthermore, there were no cattle imported from GB for direct slaughter in local plants last week.
On the export front, 14 prime cattle and 40 cows moved to the ROI, while no cattle made the journey to GB.
Beef prices in GB
- According to the LMC, in GB last week, the average steer price fell by a penny to 407p/kg, while the R3 steer price decreased by 0.2p/kg to 414p/kg.
- The average heifer price in GB last week fell by 0.6p/kg to 405.9p/kg, while the R3 heifer price decreased by 0.1p/kg to 414.3p/kg.
- “This brings the differential between the GB and NI R3 heifer price to 8.7p/kg.”
- Last week, the average young bull price in GB was down by 0.6p/kg to 388.4p/kg, while the R3 young bull price increased by 1.5p/kg to 405.9p/kg.
- According to the commission, the cow trade in GB last week “remained” firm, with the average cow price up 1.1p/kg to 274.7p/kg. “The O3 cow price in GB increased by 0.8p/kg to 293.7p/kg, 10.1p/kg behind current NI levels,” the LMC concluded.