Beef prices Northern Ireland May 2021:
According to the Livestock and Meat Commission (LMC), base quotes for U-3 grade prime cattle this week “held steady” in plants across Northern Ireland at 368- 380p/kg.
It reported that quotes of 366-378p/kg are expected early next week, while good quality O+3 grade cows ranged from 265-290p/kg this week.
Throughput of prime cattle in NI plants last week totalled 6,692 head. This brings total prime cattle throughput during 2021 to 109,620 head back 5% compared to the same period in 2020.
Cow throughput in NI last week totalled 1,713 head taking throughput for the year to date to 30,405 head. The LMC pointed out this is a similar throughput when compared to the corresponding period in 2020.
Exports and imports
Imports of prime cattle from ROI for direct slaughter in NI plants last week totalled 338 head with 61 cows also imported. This brings total prime cattle imports from ROI during 2021 to date to 4,390 head, up 1,808 head from the same period in 2020.
Meanwhile, cattle exports from NI for slaughter in ROI plants consisted of four steers and 73 cows last week. This brings total cattle exports to ROI during 2021 to date to 914 head, back 135 head compared to the same period in 2020.
According to the LMC, the average NI steer price last week was back 2.6p/kg from the previous week to 381.9p/kg with the R3 steer price back 2p/kg to 390p/kg.
In the corresponding week last year, the R3 steer price in NI was 325.9p/kg.
The average heifer price in NI last week decreased by 0.4p/kg to 384.5p/kg, while the R3 heifer price increased by 0.6p/kg to 392.6p/kg.
In the corresponding week in 2020, the LMC outlined, the R3 heifer price in NI was 326.6p/kg.
The NI’s average young bull price was back a penny from the previous week to 366.5p/kg, with the R3 young bull price increasing 1.3p/kg to 381.3p/kg. On the other hand, the NI O3 cow price decreased last week by a penny to 296.9/kg. Besides, the average cow price was up by 1.2p/kg to 275.4p/kg.
“The GB deadweight trade for prime cattle generally improved from the previous week. However, there were variations reported across the GB regions. The average GB steer price was up 1.8p/kg last week to 408.2p/kg, with R3 steer price up by 1.9p/kg to 413p/kg.”
The R3 steer price improved in all the GB regions, with the strongest increase reported in Scotland, where it was up by 6.6p/kg to 431.3p/kg.
The average GB heifer price last week reported an increase of 0.7p/kg to 407.3p/kg from the previous week while the R3 heifer price was up 1.3p/kg to 412.6p/kg.
The O3 cow price in GB came back last week by 1.8p/kg to 300.4p/kg. Furthermore, the GB cow price increased by 0.8p/kg from the previous week to 280.3p/kg.
The LMC noted that the ROI deadweight prime cattle prices continued to report an improving trade in euro terms along with a strengthening in the euro against sterling resulted in prices generally increasing in the region of 5-6p/kg from last week.
“The R3 steer price was the equivalent of 357.8p/kg last week, up 6.2p/kg from the previous week. This puts the ROI price 32.2p/kg below the NI R3 steer price.”
“The R3 heifer price in ROI last week increased by 5.7p/kg to the equivalent of 360.7p/kg, almost 32p/kg below the equivalent price in NI,” the LMC spokesperson concluded.