The finished cattle trade remains steady for the week ending November 27th, with stable supplies reported. Trade was reported as slow across our key export markets.
In general, steers were purchased at an average base price of around €3.90/kg on the Quality Payment System with certain lots getting higher quotes. Meanwhile, the base price payable for heifers was typically making around €4.00/kg with selected lots making 5c/kg more. These prices exclude the 12c/kg bonus payable on in-spec QA animals. Prices paid for O grade cull cows were mostly in the range between €3.20/kg and €3.40/kg.
Cattle supplies at Irish export meat plants for the week ending November 21st stood at over 32,000 head, which was 11% or over 4,000 head lower than the equivalent week last year. Supplies of heifers are down 4% for the year to date while cumulative supplies of young bulls and cull cows are down 23% and 11% respectively. Total throughput for the year to-date is 1.41 million head, which represents a decline of 5% or over 76,000 head on last year’s levels.
In Britain, AHDB report that average prices for R4L grade steers remain relatively stable, making on average Stg 357.6 pence/kg dw (equivalent to 508.03 cent/kg dw) for the week ended 14th November. Trade eased particularly for striploins and ribs. Demand was best for diced beef and round cuts and it is hoped that this demand will pick up further in the run up to Christmas.
In France, demand has eased particularly at food service level with fewer people eating out. Trade has eased for thick skirts and flank steaks however demand has risen for cuts such as beef cheeks on the back of the recent cold weather. The R3 young bull price was unchanged at €3.73/kg while the O3 cow price was down 2c/kg to €3.12/kg.
In Italy, trade was reported as slow however it is hoped that wholesale promotions focusing on boosting retail sales as the festive season approaches will help the market. It was also reported that the live trade between Italy and France has returned to more normal levels. The R3 young bull price was down 13c/kg to €3.79/kg while the O3 cow price was unchanged making on average €2.47/kg.