Update on January 2022 beef prices.
According to the Livestock and Meat Commission, steer prices were back, while heifer and cull cow prices increased across plants in Northern Ireland this week.
In its weekly market report, it outlined that base quotes for U-3 grading prime cattle continued to range from 388-394p/kg.
In the corresponding week in 2021, planted quoted 366-378p/kg for in-spec U-3 grade steers and heifers. Meanwhile, quotes for O+3 grade cows ranged from 260-290p/kg.
January 2022 beef prices
All in all, the commission said deadweight prime cattle prices reported a “mixed performance”.
- The average NI steer price in NI was back by 0.4p/kg to 396p/kg, with the R3 steer price back 1.6p/kg to 403.9p/kg. In the same week last year, the R3 steer price was 382.1p/kg;
- The average heifer price in NI last week was 397.9p/kg, up 0.4p/kg. The R3 heifer price rose by 1.3p/kg to 405.7p/kg. In the same week last year, the R3 heifer price in NI was 384.2p/kg, 21.5p/kg behind current levels.
Furthermore, the deadweight cow trade in NI “strengthened” with the average cow price up 5.2p/kg to 276.5p/kg. The O3 cow price increased by 3p/kg to 301.8p/kg.
According to the LMC, the prime cattle throughput in local plants improved last week with 7,048 head processed. This figure was up 1,221 head from the 5,827 head processed the previous week.
Furthermore, this is also an increase of 881 head from the 6,167 head processed in local plants during the same week last year.
Last week, cow throughput in NI rose by 646 head to a total of 2,301 head.
In the same week in 2021, cow throughput totalled 1,952 head.
Exports and imports
Imports from ROI for direct slaughter in local plants last week increased for the previous week to 104 prime cattle and 60 cows with no cattle imported from GB for direct slaughter in local plants.
Meanwhile, exports from NI to ROI comprised 36 cows with no exports from NI to GB for direct slaughter.
GB beef prices
The average steer price in GB fell by 0.6p/kg to 408.4p/kg, while the R3 steer price increased by 1.2p/kg to 416.7p/kg. According to the LMC, this places the R3 steer price in GB at 12.8p/kg higher than the same price in NI;
The average heifer price in GB “remained steady” at 407.5p/kg, while the R3 heifer price increased by 0.6p/kg to 415.6p/kg.
The average young bull price in GB fell by 3p/kg to 389.4p/kg, with the R3 young bull price back 1.1p/kg to 405.4p/kg.
Meanwhile, the cow trade in GB “firmed” with the average cow price up 1.1p/kg to 267.3p/kg and the O3 cow price up 2.5p/kg to 290.2p/kg.
More beef price updates.