Update on October 2021 beef prices
“Under pressure” were the words the LMC (Livestock and Meat Commission) used to describe the beef trade in Northern Ireland this week.
In its weekly market report, it reported that plants paid between 386-394p/kg for U-3 grading prime cattle.
Furthermore, it explained that during the corresponding period in 2020, processors quoted between 354-360p/kg for in-spec U-3 grade steers and heifers.
Besides, quotes for O+3 cows also “remained under pressure” this week, ranging from 260-300p/kg.
October 2021 beef prices
- The average steer price in NI fell 0.2p/kg to 391.7p/kg, with the R3 steer price back 1.4pkg to 401.1p/kg. In the same week last year, the R3 steer price was 367.0p/kg, 34.1pkg behind current levels.
- The average NI heifer price was back 2.2p/kg to 393.1p/kg, while the R3 heifer price was back 0.2p/kg to 401.5p/kg, which puts it 33.3p/kg ahead of the R3 heifer price in the same week in 2020.
- The average young bull price in NI was up 0.6p/kg to 379.8p/kg, while the R3 young bull price was back 4.4p/kg to 389.3p/kg.
- Meanwhile, the average cow price in NI was up 0.2p/kg to 281.0p/kg, while the O3 cow price was back 1.1p/kg to 314.0p/kg.
Prime cattle throughput in NI last week amounted to 6,890, back 316 head from the previous week. This back 264 head compared to the same week last year when 7,154 prime cattle were slaughtered in local plants.
Meanwhile, cow throughput “remained steady,” with 2,255 cows processed in NI last week, back 10 head from the previous week.
This is also back 200 head compared to the same week last year when cow throughput amounted to 2,455.
Exports and imports
Furthermore, cattle imports from ROI for direct slaughter in local plants last week consisted of 261 prime and 202 cows. No cattle were imported from GB for direct slaughter.
Last week, 82 cows were exported out of NI to ROI for direct slaughter. Besides, 19 prime cattle and 16 cows made the journey from NI to GB for direct slaughter.
GB beef trade:
According to the LMC, in GB, the deadweight trade for prime cattle was “mixed”.
- The average steer price fell 1.1p/kg to 409.7p/kg, while the R3 steer price was back 0.9p/kg to 416.4p/kg;
- The average heifer price in GB declined by 0.8p/kg to 407.9p/kg with the R3 heifer price up 0.9p/kg to 417.3p/kg. “This places the R3 heifer price in GB at 15.8p/kg above the same price in NI,” it said.
- The GB cow trade “remained under pressure” last week. The average cow price fell 2.1p/kg to 271.1pkg with the O3 cow price back 0.9p/kg to 300.2p/kg.
The LMC continued: “The R3 steer price in ROI last week reported a decrease of 3.4p/kg to the equivalent of 357.5p/kg, bringing the R3 steer price differential between ROI and NI to 43.6p/kg.”
“The R3 heifer price was back 3.8p/kg to 361.3p/kg which takes the R3 heifer price differential between ROI and NI to 40.2p/kg.”
“The O3 cow price in ROI last week was back 2.5p/kg to the equivalent of 303.4p/kg,” it added.