Beef prices continue to hold steady

THERE was a steady tone to the prices paid by factories for beef last week — the third consecutive week during which more than the quoted prices were paid for cattle.

The changes overall last week in the returns from the pay sheets at the factories showed very little change in the trade. Average prices paid for O grade bullocks were 2 cent/kg (1p/lb) higher, probably as a result of more flat price buying of bullocks, than a conscious decision by the factories to pay more for O grade than the previous week. Heifer prices were generally easier by about 3 cent/kg (1p/lb) but were still over the quoted prices for the week.

There was a significant improvement in cow prices an increase of 6p-8p/lb for some grades with factory averages of almost 66p/lb being paid for O grade carcasses as demand for cows because of improved continental markets pushed prices to get sufficient supplies. Against the overall average of 88p/lb, some 10 factories paid an average of 89p/lb or better for R3 grade bullocks with a top price of over 93p/lb at Carrigans of Donegal, followed at over 90p/lb by AIBP Waterford and Dawn Meats, Midleton, and AIBP, Nenagh. There was a low factory average of 80p/lb, which is difficult to justify, given that overage animals are now generally making considerably more than that.

Within the three major players in the market there were minor changes in the averages for individual factories from the previous week.

AIBP paid an average of 1p/lb more for R3 bullocks at Waterford at 91p/lb average. There was no change in the average at their Nenagh plant at 90p/lb or Bandon at 89p/lb, but Clones dropped 2p/lb at 88p/lb.

In the Dawn Meats group, there was no change at Midleton with an average of 90p/lb, or at Ballghadereen at 89p/lb or Ballyhaunis at 86p/lb (lower average probably due to mix of older cattle), while the average at Waterford dropped 2p/lb at 88p/lb.

The average for O3 bullocks was 86p/lb with a top factory average of over 88p/lb.