June 2021 beef prices
According to the Livestock and Meat Commission (LMC), beef factories across Northern Ireland quoted 362-382p/kg for in-spec U-3 grade prime cattle.
The majority of plants quoted in the region of 372- 382p/kg.
“Quotes of 370-382p/kg are expected for early next week. However, with reports of higher prices available, producers should use these base quotes as a starting point for negotiation.”
“Quotes this week from the plants for good quality O+3 remained steady at 265-290p/kg.”
The LMC outlined that the throughput of prime cattle in NI last week totalled 6,501 head. This was back slightly from the previous week and back 232 head. 6,733 prime cattle were processed locally during the corresponding week in 2020.
Furthermore, cow throughput in NI last week totalled 1,705 head, marginally up from the previous week and 390 head lower than the 2,095 cows processed in the same week in 2020.
Imports and exports
Prime cattle imports from ROI for direct slaughter last week totalled 325 head and accounted for five per cent of the total NI prime cattle kill.
In the corresponding week last year, 522 prime cattle were imported from ROI for direct slaughter in NI and accounted for 7.8 per cent of the total NI prime cattle kill.
A further 66 cows were imported last week from ROI for direct slaughter in NI plants.
Meanwhile, exports from NI to ROI last week consisted of 19 prime cattle, 14 cows and four bulls, while a further ten prime cattle and one cow made the journey to GB for direct slaughter.
June 2021 beef prices
The NI deadweight trade for cattle continued to improve last week.
The LMC outlined that most grades generally increased in the region of 1 to 3p/kg from the previous week.
“The average NI steer price slightly increased to 379.7p/kg. The R3 steer price was up by 0.3p/kg to 388.3p/kg.”
“Last week, the average NI heifer price reported an increase of just over 2p/kg to 383.7p/kg. The R3 heifer price increased by 1.4p/kg to 391.8p/kg.”
“The average NI young bull price last week held steady at 370p/kg. The R3 young bull price increased by 3.3p/kg to 381.9p/kg.”
“Meanwhile, the cow trade in NI came under pressure last week with the average cow price back by 6.8p/kg from the previous week to 273.7p/kg with the O3 cow price back by 2.2p/kg to 298.1p/kg.”
The deadweight trade for prime cattle continued to “come under pressure” in GB last week.
The average steer price decreased by 1.6p/kg to 390.8p/kg. The R3 steer price back by 2.8p/kg to 395.3p/kg.
“The differential in the R3 steer price between NI and GB narrowed from the previous week by just over 3p/kg to 7p/kg last week.”
“The average heifer price in GB last week was back by 1.7p/kg to 390.3p/kg. The R3 heifer price decreased by 2.8p/kg to 395.1p/kg.”
“The differential in R3 heifer prices between NI and GB last week narrowed by 4.2p/kg to 3.3p/kg when compared to the previous week.”
According to the LMC, the deadweight trade for prime cattle in ROI strengthened last week when compared to the previous week.
The R3 steer price last week increased by the equivalent of 1.4p/kg to 359p/kg.
The R3 heifer price up by 0.8p/kg to the equivalent of 361.6p/kg, 30.2p/kg less than the same price in NI.
“The O3 cow price in ROI was up by 1.6p/kg to the equivalent of 285.2p/kg, almost 13p/kg below the O3 cow price in NI,” the spokesperson added.