Tuesday, April 16, 2024
8.4 C
Galway
HomeBeefNorthern beef prices continue to ‘come under pressure’
Catherina Cunnane
Catherina Cunnanehttps://www.thatsfarming.com/
Catherina Cunnane hails from a sixth-generation drystock and specialised pedigree suckler enterprise in Co. Mayo. She currently holds the positions of editor and general manager at That's Farming, having joined the firm during its start-up phase in 2015.
Reading Time: 2 minutes

Northern beef prices continue to ‘come under pressure’

According to a spokesperson for the LMC (Livestock and Meat Commission), the deadweight trade for prime cattle in Northern Ireland continued to “come under pressure” this week.

They reported that the average prices for all types of cattle were back from the previous week.

The cow trade saw the average price fall by 5.4p/kg to 346.7p/kg and the O3 cow price declined by 2.2p/kg to 377.2p/kg.

Meanwhile, the average steer price was down by 2.7p/kg to 474.9p/kg, while the R3 steer price fell by 1.9p/kg to 482.7p/kg.

According to the spokesperson, this puts the differential in R3 steer price in NI and GB at 7.5p/kg compared to 2.7p/kg in the same week last year.

Moreover, the average heifer price in GB last week decreased by 1.9p/kg to 473.4p/kg, while the R3 heifer price was back by the same margin to 481.6p/kg.

This, according to the LMC, puts the R3 heifer differential between NI and GB at 6.1p/kg, while in the same week in 2022, it was at 2.2p/kg.

The LMC spokesperson added: “Base quotes from the major NI plants for early next week indicate the deadweight cattle trade will be back further.”

“Base quotes for in-spec U-3 grade prime cattle are expected to range from 446-456p/kg with the processors providing quotes of 340-360p/kg for good quality 0+3 grading cows,” they added.

Last week’s report

As we reported in this article, as has been the case in recent weeks in the ROI, there has been a “further softening” in beef factory prices across Northern Ireland.

That is according to a spokesperson for the LMC (Livestock and Meat Commission), who has reported that base quotes for in-spec prime cattle vary from 454-460p/kg.

Base quotes for O+3 grading cows early next week are expected to fall in the range of 354-370p/kg, with just one plant quoting at the upper end.

A spokesperson said: “Prices  paid  have  declined  in correspondence with the base quotes published by LMC.”

“However, producers are reminded quotes should be used as a starting point for negotiation with higher prices available for good quality cattle.”

See more farming news on www.thatsfarming.com

- Advertisment -

Most Popular