Tuesday, October 4, 2022
13.9 C
Galway
HomeBeefNI beef prices continue to rise as supplies remain tight
Reading Time: 2 minutes

NI beef prices continue to rise as supplies remain tight

As supplies for prime cattle remains tight, the base quotes from processing plants has increased by 6p/kg this week, according to the Livestock and Meat Commission (LMC).

Quotes ranged from 346-352p/kg for in-spec U-3 grading steers and, with a range of base quotes available, producers are encouraged to shop around for the best deal.

“Quotes for O+3 grading cows this week held steady ranging from 260-275p/kg. Similar quotes are expected for all types of cattle early next week.”

Throughput

Prime cattle throughput last week totalled 6,748 head, increasing by over 1,000 on the previous week’s figure of 5,647.

While numbers have recovered, they still remain 6,999 behind last year’s figures.

Meanwhile, a total of 1,878 cows were processed in Northern Ireland last week, which was the highest number of cows processed since mid-March.

ROI cattle imported for slaughter

Imports of prime cattle from ROI for direct slaughter in NI last week increased significantly to 714 head with 325 cows also imported, the LMC outlined, up from 463 and 130 respectively last week.

Exports of cattle for direct slaughter in ROI plants continues to run low with only 19 cows exported, while no cattle were exported to Great Britain.

Beef quotes

“Tight prime cattle supplies continue to influence the NI deadweight trade with increases reported last week across the majority of grades.”

The average steer price in NI last week increased by 7.8p/kg from the previous week to 352.6p/kg with the R3 steer price increasing by just over 8.6p/kg to 360.2p/kg.

The average heifer price in NI last week increased by 7.8p/kg to 354p/kg with the R3 heifer price up by 8.8p/kg to 360.7p/kg.

- Advertisment -

Most Popular