The finished cattle trade for the week ending February 5th remains underpinned by steady demand with strong supplies reported. Trade was reported as relatively slow across our key export markets.
In general, steers were purchased at an average base price of between €3.90/kg and €3.95/kg on the Quality Payment System. The base price payable for heifers was typically making between €4.00/kg and €4.05/kg with small quantities generating 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 €3.10/kg and €3.25/kg.
Cattle supplies at Irish export meat plants for the week ending January 31st stood at over 33,000 head, which was 6% or almost 2,000 head higher than the equivalent week in 2015. Supplies of prime cattle so far this year are up while supplies of cows are back marginally.
In Britain, reported cattle prices from the AHDB remain steady in sterling terms with GB R4L grade steers averaging at Stg 341.2 pence/kg dw (equivalent to 449.78 cent/kg dw) for the week ended 29th January. Little change in the trade was reported with demand slow since the Christmas period.
In France, the trade continues to remain slow with poor demand while large volumes of competitively priced product remains on the market. Farmer protests have resulted in a renewed focus on domestically produced product. Retail promotions were focused mainly on domestically produced stewing cuts. The R3 young bull price was on average down 1c making €3.73/kg while the O3 cow price was unchanged at €2.98/kg.
In Italy, little change in the trade was reported. The R3 young bull price was up 9c averaging at €3.95/kg while the O3 cow price was unchanged at €2.46/kg.