NI factories reverse beef price cuts, but bullocks and cows back

NI beef prices November 2021

Factories across Northern Ireland reversed some beef price cuts this week, increasing young bull and heifer prices.

According to the Livestock and Meat Commission (LMC), beef prices “strengthened” across most categories.

In its weekly market outlook report, it outlined that local plants paid between 386-394p/kg for in-spec U-3 grade prime cattle this week.

Meanwhile, base quotes for O+3 grade cows continued to range from 260- 300p/kg, with most quoting 290-300p/kg.

NI beef prices November 2021

• According to the LMC, the average NI steer price last week fell marginally 0.4p/kg to 391.8p/kg, while the R3 steer price was up 0.7p/kg to 401.5p/kg. In the same week in 2020, the R3 steer price was 369.6p/kg, 31.9p/kg behind current levels.
• Last week, the average NI heifer price increased by 0.3p/kg to 395.4p/kg, while the R3 heifer price reported a decrease of 1.7p/kg to 401.5p/kg;
• Meanwhile, the average young bull price increased by 3.6p/kg to 378.2p/kg, while the R3 young bull price was up 1.7p/kg to 390.6p/kg. In the same week last year, the R3 young bull price was 357p/kg, 33.6p/kg behind current levels;
• The NI cow trade “came under pressure” last week with prices back across all grades. The average cow price was back 3.9p/kg to 275.0p/kg with the O3 cow price back 3.9p/kg to 306.2p/kg.

See the previous week’s prices.

Throughput

Prime cattle throughput in Northern Ireland last week totalled 7,763 head, back 269 from the previous week. However, this is 210 head higher than cattle throughput in the same week in 2020.

“Cow throughput in NI last week recorded the highest weekly throughput to date in 2021 with 2,540 cows processed in local plants. This is an increase of 218 cows from the previous week.”

Imports and exports

Cattle imports from ROI for direct slaughter in local plants last week comprised 321 prime cattle and 157 cows. This is above the 234 prime cattle and 83 cows that were imported from ROI during the corresponding week in 2020.

Meanwhile, there were no cattle imported from GB for direct slaughter last week. Exports from NI to ROI for direct slaughter last week comprised two prime cattle and 47 cows with a further 18 prime cattle and 17 cows exported from NI to GB for direct slaughter.

GB beef prices

The LMC reported that last week, the deadweight prime cattle prices reported “came under pressure” from the previous week.

• The average steer price in GB “held steady” at 410.6p/kg, while the R3 steer price increased by 0.7p/kg to 418.4p/kg. “This brings the differential between the GB and NI R3 steer price to 16.9p/kg or £59 on a 350kg carcass.”
• The average heifer price in GB was back by a penny to 408p/kg with the R3 heifer price back 1.2p/kg to 416.8p/kg;
• Meanwhile, the average young bull price in GB was back 1.4p/kg to 395.9p/kg, with the R3 young bull price back 3.4p/kg to 409.5p/kg.
• The cow trade in GB “continued to remain under pressure” last week with prices down 4-6p/kg from the previous week. The average cow price fell 5.3p/kg to 260p/kg, with the O3 cow price also 5p/kg less, settling at 289.7p/kg.

ROI beef prices

In its report, the LMC outlined that the R3 steer price in ROI was “marginally back” 0.1p/kg to 352.8p/kg.

“This is 48.7p/kg behind the equivalent price in NI. Meanwhile, the R3 heifer price in ROI last week was back 0.3p/kg to 356.9p/kg,” he added.

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