Beef supply steady last week at around 32,500
Quoted prices remain at a base of 390 cents/kg in general for steers, with all signals from around the country indicating that very little more is available, even for those who bargain hard before parting with their livestock.
The factory bosses have turned the screws on any top-ups to official price quotes.
Of course, the 12 cents/kg for in-spec Quality Assured stock continues to apply.
The price base for heifers is generally at 400 cents/kg, but with a bit more flexibility than for steers evident, and up to 5 cents/kg more is being secured by some beef farmers who hold out for a base of 405 cents/kg.
The supply of stock to the factories hasn’t changed much, so it is hard to see any light for improvement in prices being delivered by processors, because they are under no pressure to secure sufficient stock to meet their requirements.
The supply remained steady last week at around 32,500 head, including more than 11,500 steers and 9,000 heifers.
The trade for most of the cows is unchanged.
The O/P-grade cows are being quoted at 305-315 cents/kg.
Rs are on a base of up to 345 cents/kg.
The trade in Britain has reported R4L-grade steers averaging equivalent to 460 cent/kg (including VAT).
Their supply remains relatively strong, and there has been some easing in demand, particularly at retail level. The trade for most cuts remained static, with the exception of fillets.
In France, the trade was reported to be continuing slow, with demand poor.
There was some optimism that re-opening of schools after their spring break would boost demand.
Numerous promotions are taking place on domestically produced beef, including briskets, steaks and roasting joints.
In Italy, the market remained stable, with little change reported, and wholesale prices for hinds and forequarters static.
Looking at global markets, Bord Bia says that the US has re-opened its market to Dutch beef, and the Netherlands becomes the third EU country to gain access, after Ireland and Lithuania.
The on-going devaluation of the Brazilian real currency has led to an increase in beef export volumes, with exports from Brazil for the first two months of this year up more than 18%.
In contrast, the latest outlook from Beef and Lamb New Zealand points towards a decline in their beef exports of more than 7% in 2016, to around 400,000 tonnes, attributed to reduced production.
