Beef market report: Gradual beef price price improvement likely
Although intakes slipped back in recent weeks, due to St Patrick’s Day and Easter, there is very little evidence that processors are yet under enough pressure for any meaningful increase in prices.
Quoted base price for steers remained at 390 cents/kg this week, with some deals reported for up to 395 cents/kg, but the higher price is not being freely offered.
The heifer price is steady at a base of 400 cents/kg, with some 405 cents/kg on offer, not so much in Munster as further north, and reports that up to 410 cents/kg has been agreed for some better quality heifers.
It would appear almost inevitable that supplies should tighten further through April and into May, resulting in a gradual price improvement over the coming weeks.
Throughput at the factories year to date is up 16,000 head on the same period last year.
Most of the increase has been in the supply of young bulls, which are up by 14,000 head, with steers higher by 5,000, and the supply of cows is down compared to last year.
Cow prices remain unchanged. Quoted prices for O/P-grade cows range from 315 to 325 cents/kg, while Rs are making 335 c/kg, or a few cents more in some deals.
The trade for beef in Britain has continued to ease gradually, with prices for R4L-grade steers at equivalent to 447 c/kg (including VAT).
Slow demand and adequate supply are exerting pressure on the market.
Trade is continuing slow for most cuts, but some improvement was noted last week for fillets and rumps, while topsides also performed well.
In France, the market remained steady with little change reported.
The focus on domestically produced product continued.
Beef promotions in some of the main retailers focused on ribs, stewing beef and striploins produced in France.
In Italy, the market was reported as stagnant.
