The deadweight cow trade in NI has come under some pressure this week, according to the Livestock and Meat Commission (LMC).
The commission said this is in response to weaker demand for cow beef from the EU market, in particular, due to the impacts of Covid-19 restrictions on the foodservice sector.
Local plants are quoting 245-260p/kg this week for O+3 grading cows compared to 260-280p/kg early last week. Cow supplies for slaughter have remained firm with 2,664 processed locally last week. This is the highest weekly throughput since October 2019.
The deadweight trade for cows in NI remains ahead of the trade in GB and ROI.
The O3 cow price in NI was up 1.7p/kg to 277.5p/kg last week, however, reported prices for this week are expected to record a notable decline when they become available next week.
“The cow trade has also come under pressure in GB this week in response to the weaker demand for cow beef.”
The O3 cow price in GB last week was back by a penny to 265.1p/kg. This places it 12.4p/kg behind the trade in NI.
The O3 cow price was back in almost all the GB regions last week with the strongest decline in the Midlands where it came back 2.5p/kg to 265.7p/kg.
“In ROI, the O3 cow price has continued to come under pressure with reported prices last week back the equivalent of 5p/kg to 260.8p/kg. This places it 16.7p/kg behind the O3 price in NI.”