The improvement in cattle prices paid by factories has continued, with bigger gains in areas where the supply of cattle is tighter.
With the exception of some parts of the south, where supplies of cattle were most plentiful, quoted prices were generally improved by 3 cents/kg (1p/lb) for R and O grade cattle at the processors. In the south, the general quote for R grade stock was 289 and back to 286 cents/kg (103p or 102p/lb), with prices offered for O grade at 283 and back to 280 cents/kg (101p or 100p/lb).
In the east, 291 cents/kg (104p/lb) was on offer, and in the midlands, up to 294 cents/kg (105p/lb) was being quoted to cattle farmers.
Although the supply of cattle was generally reported to be stronger across the south and east of the country, farmers were negotiating better than quoted prices for their cattle with the factories.
The top up was based on the factories’ need to get more cattle, and in general, demand was strong enough to necessitate paying a margin over the quoted price.
Quality R grade stock were making 299 cents/kg (107p/lb) in the north west, with pro rata prices on offer for O and U grades.
The beef trade in Britain continued to make a full recovery from a setback at the end of last month.
The trade for prime cuts is reported to be still under pressure, but overall, the trade has steadied. The supply of beef to the market is reported to be relatively strong, boosted by a steady supply of cow beef.
Prices to British farmers have also recovered, with R4L returning the equivalent of 297 cents/kg (106p/lb), incl VAT.
The Irish beef market dipped in tandem with the UK market, and the supply of steers followed this trend, but has since increased, as prices lifted.
The trade for cows continues strong, and has come through the ending of the OTM scheme in Britain without impact.
Although some processors here were not as interested in large numbers of cows this week, there is still strong demand for cows, and plenty of competition to keep prices strong.
Up to 252 cents/kg (90p/lb) is being paid for O grade cows, while the quality cows are commanding 266 and back to 263 cents/kg (95p or 94p/lb).