Bullock prices drop below 2006 level

Marts: Beef prices have slumped below 2006 level — for the first time this year — after the worst week for the dead trade in several months plunged finished into deeper losses.

Between 2 c/kg and 8 c/kg (1p — 3p/lb) was wiped off the average prices paid for R/O grades last week, while P grade prices were cut by up to 22 c/kg (8p/lb) at individual factories as the reduction hit hardest at the lower grading animals.

The average price for R4L bullocks — which earlier this year had a lead of 10 c/kg over 2006 prices — last week slipped 1 c/kg below the corresponding week last year. The average for R4L heifers dropped to 1 c/kg above the same week in 2006.

Given that up to 25% of last weeks kill had been pre-purchased — and paid for at the higher prices prevailing at the time of booking — the true fall is slightly understated in the averages shown.

The only category weathering the downturn is the cow trade. Cow prices held at up to 266 c/kg (95p/lb) for R’s and 249 c/kg (89p/lb) for O/P grade cows. These prices were paid by Kepak (Clonee) and Liffey Meats (Ballyjamesduff) respectively. Moyvalley Meats (Kildare), AIBP (Bandon and Rathkeale), Kildare Chilling (Kildare) and Meadow Meats (Rathdowney) were also strong contenders.

For the R4L bullocks the best was 298 c/kg (106.5p/lb) at Slaney Meats which was only 2 c/kg higher than the national average of 296 c/kg (105.7p/lb). AIBP Group was down 3 c/kg (1p/lb), Kepak Group also losing 3 c/kg (1p/lb) and Dawn Group dropping 2 c/kg to an average of 295 c/kg (105.3p/lb) while AIBP and Kepak averaged 1 c/kg more. The average for O4L dropped to 285 c/kg (101.8p/lb).

R4L heifers maintained a 3 c/kg lead over the bullocks at 299 c/kg (106.7p/lb) but the lead was not sustained for O3 which averaged 285 c/kg (101.7p/lb).

The factories paid an average of 264 c/kg (94p/lb) for P+3. One third of factories reduced P+3 price 15-22 c/kg 5p-8p/lb).