Update: Northern Ireland beef trade
According to the Livestock and Meat Commission, processing plants across Northern Ireland pulled beef quotes this week.
The average steer price fell by 0.2p/kg to 391.1p/kg, while the R3 steer price increased by 0.3p/kg to 401.4p/kg. This represents an increase of 29p/kg from the corresponding week last year when the R3 steer price in NI was 372.4p/kg.
Meanwhile, the average heifer price in NI last week dropped 0.5p/kg to 392.4p/kg, while the R3 heifer price fell by 0.6p/kg from the previous week to 401.2p/kg.
In the corresponding week in 2020, the R3 heifer price in NI stood at 370.5p/kg – 30.7p/kg behind current levels.
Furthermore, the LMC reported that the NI cow trade “came under some pressure last week”.
The average cow price was back 6.3p/kg from the previous week to 283.7p/kg. The O3 cow price in NI last week was back by 1.3p/kg to 314.5p/kg. This is 35.3p/kg higher than 279.2p/kg, it reported in the corresponding week in 2020.
Northern Ireland beef trade
Base quotes from the plants for in-spec U-3 grade prime cattle ranged from 384-394p/kg. The LMC reported that most plants quoted at the “upper end of this scale” for steers and heifers.
This week last year, major processors quoted 350-360p/kg for in-spec U-3 grade bullocks and heifers.
Quotes for good quality O+3 grade cows ranged from 280- 300p/kg, with similar base quotes expected for next Monday.
Throughput
Last week, prime cattle throughput amounted to 6,788 head – a decrease of 311 head from the previous week and 136 head higher than the 6,652 head processed during the corresponding week last year.
Cow throughput in NI last week totalled 2,316 head – a similar throughput to the previous week and 333 head higher than the 1,983 cows processed in the same week in 2020.
Exports and imports
Prime cattle imports from ROI for direct slaughter last week totalled 376 head, with 159 cows also imported.
Exports from NI for direct slaughter in ROI plants last week comprised two prime cattle and 31 cows. On the other hand, no cattle were exported from NI to GB for direct slaughter last week.
Beef trade: GB
The LMC pointed out that the deadweight cattle trade in GB “improved” across most grades last week compared to the previous week.
Last week, the average steer price in GB increased by 1.4p/kg from the previous week to 411.1p/kg, with the R3 steer price up by 2.2p/kg to 417.4p/kg. This brings the differential in the R3 steer price between NI and GB to 16p/kg.
Furthermore, the average heifer price in GB last week was up by 1.1p/kg to 410.1p/kg, while the R3 heifer price increased by almost 2p/kg to 417.2p/kg. The differential in R3 heifer price between NI and GB last week was 16p/kg.
The average cow price in GB last week was back 2.4p/kg from the previous week to 290.9p/kg, and the O3 cow price decreased by almost a penny to 317.9p/kg.
ROI beef trade
The LMC reported that the R3 steer price in ROI “remained steady” from the previous week at 358.1p/kg, bringing the R3 steer price differential between NI and ROI to 43.3p/kg.
“The R3 heifer price was up 0.2p/kg to the equivalent of 361.2p/kg, which takes the R3 heifer price differential between NI and ROI to 40p/kg.”
“The O3 cow price in ROI increased by 1.1p/kg to the equivalent of 299.2p/kg, 15.3p/kg below the O3 cow price in NI,” the LMC concluded.
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