Slump hasn’t ended yet
It looked like the spring trade had bottomed out and prices were set to hold or slightly strengthen for the last of the housed cattle; instead processors have knocked another 3 cents/kg (1p/lb) off their quotes, the second consecutive week of price cuts.
Processors blame export markets weakness, and some of them have cut their already short working week to just two days.
In the south of the country, the Rs are generally making 235 cents/kg (84p/lb).
Some factories have quoted back to 232 cents/kg (83p/lb) for the Rs, and say that they are getting cattle at that price. In the midlands, prices are a bit stronger at 238 cents/kg (85p/lb) and further north, the quality R3 is making a bit more. Prices for O grade are generally ranging 221-224 cents/kg (79p-80p/lb) across the country with very little variation from north to south.
These prices are quoted for under 30 months cattle. But, price for over 30 months cattle are similar (although some factories still do not accept cattle over 30 months).
At Galtee Meats at Charleville, Co Cork, quality heavy carcasses of over 400 kgs are making better prices, regardless of age.
The cow trade has been the most consistent and while showing signs of slight weakening over the past week, it is still very firm, at around 185 cents/kg (66p/lb).
Faced with low prices, it is not surprising that producers have reacted strongly to the increase in beef imports into Ireland of Brazilian beef for the catering trade, to almost 4,000 tonnes.
This beef, cheaply produced with EU food regulations and imported here at very low prices, is undermining the home trade, and is keeping down Irish cattle prices, said IFA Livestock Chairman, Derek Deane.
