Beef price rises despite supply hike
Bullock supplies to the factories increased by over 4,000 head on the previous week as the strong improvement in prices tempted producers to sell, pushing intake to 20,000 head. The intake of heifers increased by 1,100 to 8,284, and strong cull cows supply pushed the numbers at the plants to 39,486 head, 7,000 head up on the previous week.
The strong increase in supply may have influenced a slowing in the rate of price increase with an average gain of 6c/kg (2p/lb) for bullocks compared to 8c/kg (3p/lb) the previous week. The increase in heifer prices was less than the bullocks.
The processors paid an average of 91p/lb for R4L bullocks and just under 88p/lb average for O4L grade. Donegal Meats paid over 95p/lb average for R4L bullocks, with 92p/lb going at Euro Farm Foods, Duffys, and Slaney and slightly less at Newgrange and Moyvalley. Group averages at all three major processors came in below the national average. AIBP bought their supply at an average of 90.6p/lb and Dawn and Kepak both paid averages of 90p/lb - but the price increase at all three groups was 2p/lb.
The overall average for R4L heifers was 91.4p/lb. Apart from Kepak at Clonee paying 108p/lb - including premium for contract heifers - Donegal Meats paid 94p/lb, and Slaney, AIBP at Nenagh, and Meadow Meats averages in excess of 93p/lb. The national average for O4L was just under 88p/lb.
The highest price for cull cows was steady at 82p/lb for R4 grade at Euro Foods, while O grade were 78p/lb at Exel and Euro paid over 75p/lb for O grade. Moyvalley, Liffeys, AIBP at Clones and Kepak at Clonee were also strong on cow prices.
