'Dream' beef price exceeded for both steers and heifers

Storm Éowyn resulted in most factories having to defer slaughtering on Friday due to the travelling difficulties for both their staff and suppliers of stock, but some did operate on Saturday to complete the week.

The pressure on beef processors to source sufficient stock to meet their requirements is continuing to drive the prices upwards, with further gains for suppliers this week.

Most of the factories have increased prices for steers and heifers by a further 5c/kg as intense competition between the processors for finished stock continues to drive the trade forward.

The €6/kg 'dream' price for both steers and heifers has been exceeded, and returns to suppliers of Angus and Hereford are hitting €6.50/kg or above when breed bonuses are added into the base plus quality assurance.

Quoted base prices for steers this week are 585-590c/kg, with a good percentage on 595c/kg and a few cents/kg above in hard deals for larger numbers of animals.

Heifers are being generally quoted at a base of 595-600c/kg and up to 605c/kg, while regular suppliers with larger numbers to offer are reported to be securing deals above that.

Storm Éowyn resulted in most factories having to defer slaughtering on Friday due to the travelling difficulties for both their staff and suppliers of stock, but some did operate on Saturday to complete the week.

January is adding up to an intake at the factories rarely, if ever, before reached, and the demand for stock throughout the month has continued to exceed supply.

Traditionally, January was usually a quiet month for demand for beef on the markets, with a squeeze on consumer spending post the Christmas festivities, but January 2025 will go down as having been exceptional in every way.

"Suppliers with finished cattle usually tried to move them pre-Christmas because the trade often took a dip in January as demand weakened and prices followed," summed up one source.

"No one predicted the trade for cattle that we've seen over the past two months. There has been a strong intake at the factories, but they are still looking for more, and it is a competition to get the extra cattle that is driving the prices to where they have reached," he added.

Cow prices have followed the prime beef, such is the demand for supplies for the catering and manufacturing sectors. The R-grade cows are now ranging 545-555c/kg and up to 560c/kg.

The young bulls are making over 600c/kg for R-grade this week. The supply last week slipped to 34,397 head, which was probably contributed to by the impact of the storm on Friday slaughterings.

There were 11,434 steers, 11,478 heifers, 7,918 cows, and 3,137 young bulls. The January supply to the end of last week is up by 3,500 head on the corresponding period in 2024, adding up to an overall very strong kill for January.