Up to 350 cents/kg (125p/lb) for quality steers in north west
Competition between the factories for finished cattle, combined with a continuing hard sell policy among farmers, is maintaining the upward trend in beef prices.
In general, prices being paid for cattle have advanced by 3 to 6 cents/kg (1p or 2p/lb).
While factories in the southern half of the country are paying the lower prices, the rising tide is lifting all boats, with near pro rata improvements across the country.
With the factories’ officially quoted prices generally 3 to 6 cents/kg (1p or 2p/lb) behind the actual buying prices (this is becoming the established pattern), more farmers are telling processors what they will have to pay to get the animals, rather than inviting them to quote their offered prices.
In the south, prices being paid are ranging from 339 to 342 cents/kg (121 or 122p/lb) for R grade steers. Move to the east, or to the midlands based factories, and the going rate is ranging from 344 to 347 cents/kg.
Up to 350 cents/kg (125p/lb) is reported to have been paid for quality R grade steers in the north west.
Prices for O graders vary from 331 cents/kg (118p/lb) in the south to 342 cents/kg (122p/lb) in the north.
Most of the plants are willing to pay 3 to 9 cents/kg (1p-3p/lb) more for heifers than for the steers.
The higher prices last week delivered a good increase in the supply of cattle to factories.
Total intake by processors was up around 4,000 head, to over 31,000 head, which comes within 1,000 head of the same week last year.
There was an increase of around 2,300 head in the supply of steers, to almost 14,500 head.
This brought the supply to within a few hundred head of the corresponding 2007 week.
Cow prices at the factories are firm to improving. The base prices for O and P grades have edged upwards to 294 to 300 cents/kg (105p to 107p/lb), depending on the levels of demand and supply at each particular factory, while up to 308 cents/kg (110p/lb) is being negotiated for quality lots of R grade cows.
Factories normally in the market for prime beef — the Kepak Group, Donegal Meats, Kildare Chilling — are currently all strong contenders for good quality cows, adding to the competition between the regular cow buyers such as Liffey and Ashbourne Meats.
Demand for beef remains strong. Supplies are tight in Britain, and prices to farmers there have advanced over the past week, with R4L steers making the equivalent of 340 cents/kg (including VAT). Most of the continental markets are steady or slightly stronger.
