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Beef prices still under pressure

Base quotes from major NI processing plants for U-3 grade prime cattle, this week, “remained fairly steady”, according to the Livestock and Meat Commission (LMC).

It pointed out that beef factories were quoting in the region of 314-320p/kg. Quotes from the plants for good quality O+3 cows also “remained steady” at 224- 230p/kg.

“Similar quotes are expected for all types of cattle next week.” the LMC added.

Throughput

Prime cattle throughput in NI last week totalled 7,062 head, representing a decrease of 155 head from the previous week.

This is an increase of 203 head from the corresponding week in 2019 when 6,859 prime cattle were processed in local plants.

Cow throughput last week totalled 1,591 head, a decrease of 257 head from the previous week.

No cattle were imported to NI for direct slaughter last week from ROI or GB, the LMC added.

Meanwhile, exports from NI for direct slaughter in ROI last week totalled 44 head and these were predominantly cows, with no cattle exported from NI for slaughter in GB plants last week.

Average prices

“In NI, last week the deadweight trade for all types of cattle came under pressure.”

The average steer price was back by 5.5p/kg to 325p/kg with the R3 steer price decreasing by 5p/kg to 333.9p/kg.

The average heifer prices in NI last week decreased by 4.7p/kg from the previous week to 328.1p/kg, while the R3 heifer price decreased by 3.9p/kg to 335.7p/kg.

The average young bull price was back by 8p/kg to 305.9p/kg with the R3 young bull price decreasing by 7.2p/kg to 319.7p/kg.

“The cow trade also came under pressure last week compared to previous weeks.”

The average cow price recorded a notable decline of 16.4p/kg to 223.6p/kg while the O3 cow price was back by 14.8p/kg to 242.9p/kg; this is the lowest recorded O3 cow price since March 30th, 2019 when the price reported was 238.5p/kg.

“In GB last week, the deadweight trade for steers and heifers generally came under pressure when compared to the previous week.”

The average steer price decreased marginally to 336.6p/kg, while the R3 steer price fell by 1.9p/kg to 341.3p/kg. R3 steer prices reported declines across all regions except in Northern England were an increase of 0.7p/kg to 348.6pkg was reported.

The average heifer price “remained steady” at 336.7p/kg, while the R3 heifer price reported a decrease of 2.1p/kg to 339.3p/kg.

R3 heifer prices reported declines across all regions with the strongest decrease reported in Northern England where it was back by 4.9p/kg to 340.3p/kg.

“The cow trade also came under significant pressure in GB last week with the average cow price decreasing by 19p/kg to 211.8p/kg, while the O3 cow price decreased by 16.4p/kg to 239.5p/kg.”

ROI

“In ROI last week, the deadweight cattle trade also came under pressure and, with a weakening in the euro, ROI prices came back notably in sterling terms.” the LMC added.

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