Beef prices continue to rise in NI


Supplies are tightening

Beef prices continue to rise in NI

  • ADDED
  • 25 days ago

Supplies are tightening

Base quotes from the major NI processing plants this week ranged from 320-326p/kg for in-spec U-3 grade prime cattle, according to the Livestock and Meat Commission (LMC).

The majority of plants quoted 324-326p/kg for steers and heifers. Quotes for O+3 grading cows continued to "remained steady" as they ranged from 230-256p/kg across the plants.

Prime cattle throughput last week totalled 6,883 head, representing a decrease of 628 head from the previous week and 77 head lower than the same week in 2018, according to the LMC.

Cow throughput in NI last week was back 69 cows when compared to the previous week at 2,593 head though it was marginally higher than the corresponding week in 2018.

The deadweight trade in NI reported an overall improvement in the majority of prime cattle grades last week, the LMC said.

Price increases

The average steer price, the LMC outlined, increased by 3.8p/kg to 318.6p/kg while the R3 steer price was up by 3.5p/kg to 328.7p/kg when compared to the previous week.

Meanwhile, the average heifer price increased by 3.8p/kg to 324p/kg with the R3 heifer price up by 4.1p/kg to 332.3p/kg.

The average young bull price was up 4.4p/kg to 305.5p/kg while the R3 young bull price was up by 1.2p/kg to 314.1p/kg, the LMC outlined.

"The cow trade in NI came under some pressure last week with the average cow price back by 0.6p/kg to 221.4p/kg and the O3 cow price decreasing by half-a-penny to 248.8p/kg."

ROI

"The deadweight trade for prime cattle [in the Republic of Ireland] is continuing to come under pressure."

The R3 steer price came back by 0.6p/kg to 297.8p/kg, 30.9p/kg below the same price in NI.

Meanwhile, the R3 heifer price decreased by 1.7p/kg to the equivalent of 305p/kg, 27.3p/kg below the R3 heifer price in NI.

The cow trade also "came under pressure" this week with the O3 cow price back by the equivalent of 0.6p/kg to 224.2p/kg, 24.6p/kg below the O3 cow price in NI.

GB

"In GB last week, the deadweight trade for prime cattle also reported improvements in prices."

"The average steer price in GB was up 2p/kg to 324.3p/kg. while the R3 steer price increased by 1.6p/kg to 333.3p/kg." This narrowed the differential in R3 steer prices with NI to 4.6p/kg.

The average heifer price in GB last week increased by 3.9p/kg to 324.9p/kg while the R3 heifer price increased by 2.1p/kg to 333.6p/kg. This also narrowed the differential between NI and GB to 1.3p/kg.

Meanwhile, the cow trade in GB continues to come under pressure last week with the O3 cow price back by 3.3p/kg to 227.8p/kg, 21p/kg below the equivalent price in NI, the LMC outlined.

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