NI beef prices October 2021
The LMC expects factories across Northern Ireland to move beef prices up a gear next week.
It reports, in its weekly market outlook, that plants paid 384-394p/kg for in-spec U-3 grade prime cattle this week. It expects plants to pay between 386-394p/kg for this category next week.
Meanwhile, quotes for O+3 cows have “come under some pressure” this week, ranging from 260-300p/kg.
NI beef prices October 2021
According to the commission, the NI deadweight prime cattle trade “remained steady” this week.
- The average steer price in NI last week increased marginally to 391.9p/kg, up 0.1p/kg from the previous week. The R3 steer price in NI last week rose by 0.3p/kg to 402.5p/kg. In the corresponding week in 2020, the R3 steer price was 366.4p/kg, 36.1p/kg behind current levels.
- The average NI heifer price last week increased by 0.9p/kg to 395.3p/kg, while the R3 heifer price was up 1.1p/kg to 401.7p/kg. In the same week in 2020, the R3 heifer price was 367.5p/kg, 34.2p/kg behind current levels.
- The average young bull price in NI last week fell 3.5p/kg to 379.2p/kg, while the R3 young bull price was up 1.0p/kg to 393.7p/kg;
- Meanwhile, the NI cow trade “came under pressure”. The average cow price decreased 1.0p/kg to 280.8p/kg, while the O3 cow price was back 0.5p/kg to 315.1p/kg.
Prime cattle throughput in local plants last week totalled 7,206 head, up 150 head from the previous week.
In the corresponding week in 2020, prime cattle throughput in local plants totalled 7,024.
Cow throughput “remained steady”, with 2,265 processed in NI last week. This is up 90 cows from the previous week and back 120 compared to the 2,385 cows processed in the corresponding week in 2020.
Exports and imports
Imports of cattle from ROI for direct slaughter in NI comprised 241 prime and 109 cows, with no cattle imported from GB for direct slaughter in local plants.
Last week, 49 prime cattle and 54 cows were exported out of the north to ROI for direct slaughter. Meanwhile, a further 30 prime cattle and 11 cows made the journey from NI to GB for direct slaughter.
Beef prices in Great Britain
- In GB last week, the average steer price was back 0.9p/kg to 410.8p/kg, while the R3 steer price was up 0.2p/kg to 417.3p/kg. In the same week in 2020, the R3 steer price was 374.9p/kg.
- The average heifer price in GB last week fell by 1.1p/kg to 408.7p/kg, while the R3 heifer price was back 1.6p/kg to 416.4p/kg.
- Meanwhile, the GB cow trade “remained under pressure”. The average cow price fell 6.2p/kg to 273.2p/kg, with the O3 cow price back 5.6p/kg to 301.1p/kg.
Beef prices in Ireland
The LMC reported that the R3 steer price in ROI last week was the equivalent of 360.9p/kg, up 0.7p/kg from the previous week.
“This puts the R3 steer price in ROI at 41.6p/kg behind the same price in NI,” the LMC pointed out.
Meanwhile, the R3 heifer price was up 1.7p/kg to 365.1p/kg. The cow trade “remained steady” across all grades. The O3 cow price reported an increase of 1.0p/kg to the equivalent of 305.9p/kg.
“This puts the O3 cow price in ROI at 9.2p/kg behind the same price in NI,” the LMC concluded.