Exports spark surge in beef prices

Marts: While the intake of bullocks at the factories has increased to its highest in four years for the corresponding week, export demand for beef pressured processors to get more cattle, resulting in a further surge in prices.

Average prices for cattle increased by a further 2p-3p/lb last week with the benchmark 100p/lb being breached for R grade bullocks for the first time since mid-summer.

Jennings of Ballinrobe paid an average of just over 100p/lb for R4L bullocks for last week’s kill. This was 6p/lb above the national average and 5p/lb higher than their nearest rival. In contrast some southern factories paid averages of 1p-2p/lb under the national average for similar grade cattle at prices back to 92p/lb.

The supply of bullocks at 19,019 head, a slight increase on the previous week, was the highest intake for a corresponding week since 2001, confirming strong demand for beef at export plants, where supplies are still described as tight.

AIBP at Clones, Newgrange, Liffeys, Moyvalley, and Slaney all paid just over 95p/lb average for R4L bullocks. The national average for O4L bullocks was 91p/lb.

The national average for R4L heifers was just under 95p/lb. Kepak at Clonee paid an average of over 105p/lb - including bonus for contract producers - with 96p/lb average at Slaney, 95.7p/lb at Liffeys and 95.5p/lb at Kepak at Watergrasshill, Jennings, Meadow and AIBP Clones. The average for O4L heifers was over 91p/lb.

The top price for R grade cull cows slipped to 83p/lb at Euro Foods. Kepak, Clonee paid 80p/lb for O grade and Exel were the highest for P grade at 79p/lb. AIBP at Clones, Liffey Meats, and Kepak at Clonee were near the highest prices for culls.