Quotes from the major processors for O+3 grading cows have held steady in NI in recent weeks/months, with quotes this week ranging from 230-256pkg, according to the Livestock and Meat Commission.
The majority of plants are quoting in the region of 240-256p/kg.
With quotes holding steady, the prices paid for O3 grading cows have also held relatively steady, it said.
The O3 cow price in NI last week was 249p/kg, up marginally from the previous week and very similar to this time last year.
“However, while NI cow prices have held steady, there has been a marked decline in the cow trade in both GB and ROI.”
The average O3 cow price in GB last week was 228.3p/kg – an increase of 0.5p/kg from the previous week; however, it was 20.7p/kg below the equivalent price in NI.
“Meanwhile the O3 cow price in ROI last week in sterling terms was 221.4p/kg, back 2.8p/kg from the previous week; this puts the value of a 300kg O3 grading cow at £74 behind the same price in NI.” the LMC outlined.
Cow throughput in NI has recorded a five per cent decline during 2019 to date when compared to 2018 levels.
With demand for cows from the plants holding steady, this may have contributed to the relative stability in the NI cow trade in recent months, the LMC outlined.
“Meanwhile in ROI, there has been downward pressure on the prices being paid for all classes of cattle, including cows.”
“There has been a decline in the cow kill in ROI in recent weeks; however, strong supplies of prime cattle have helped processors maintain throughput."
The average EU O3 cow price was 271.9c/kg, back 6.4c/kg from the same week last year.The LMC noted that there is, however, some notable variation in the deadweight cow trade recorded across the regions.
The O3 cow price in NI during the week ending November 10th, 2019 in euro terms was 287.0c/kg, up marginally from the same week in 2018.
The O3 cow price in GB was the equivalent of 262.7c/kg during the w/e 10 November 2019, back 11.4c/kg from the same week last year.
“The biggest decline in O3 cow prices have been recorded in ROI which was back by 34.8c/kg year on year to 258.5c/kg.”
“This moves it down from fourth position in the table to tenth position and places it 13.4c/kg below the EU average; this notable decline year-on-year equates to a decline in the value of a 300kg carcase of €104 year-on-year.” the LMC concluded.