Worst may be over for beef prices

Marts: Beef prices have fallen 20 cent/kg (7p/lb) over the past four weeks — the largest one-month slide in years — following a drop of 5 cent/kg (2p/lb) in the average paid for R4L grade at the factories last week.

However, there are grounds for optimism that the worst of the decline may be over for now, with prices more stable this week and the supply of cattle easing. The intake of both bullocks and heifers was down last week although still higher than the same week last year.

The kill of 30,339 head included 14,703 bullocks and 7,136 heifers. The factories paid an average of 283 cent/kg (101p/lb) for R4L bullocks last week, with Dawn (Waterford) matching Donegal Meats for the top price of 103.6p/lb after prices at Donegal slipped by 3.5p/lb. There was no change in the average at Euro Farm Foods — paying 103p/lb — with AIBP (Waterford), Dawn (Waterford), Kepak (Clonee), Liffeys and Kildare Chilling all paying averages within 1p/lb of the previous week.

About one-in-three factories cut the price by at least 2p/lb. Group averages at the three main players — AIBP, Dawn and Kepak — were 101p-101.4p/lb, with changes on the week ranging from a drop of just over 1p/lb at Kepak to 1.5p/lb for AIBP and 2p/lb at Dawn.

The overall average for O4L bullocks was 97.3p/lb. Heifers had a national average of almost 102p/lb and a top factory average of just short of 109p/lb at Kepak (Clonee), a kill which obviously included some of the KK/Angus premium priced heifers. Slaney Meats paid an average of 104.6p/lb and Donegal 104.3p/lb.

The top price for cows, of 87.6p/lb for R4L at Euro, was up 1p/lb. AIBP (Clones) and Liffeys were tied for O-grade at a top of 83p/lb, unchanged from the previous week. The highest for P-grade was up 1p/lb at 82p/lb by Liffeys.