There was little change to report in the overall cattle trade as supplies continue to exceed last year's numbers.
Quotes for R grade steers under the Quality Payment System continue to make a base reference price of between 294 and 297 cent, while heifers prices during the week stood at around 300 to 308 cent. These prices exclude the 6 cent on in-spec Quality Assured stock. The cow trade is broadly unchanged with O grades making between 235-252c/kg.
Export meat plant supplies for the week ending 13th of March stood at 33,400 head, which was 5,600 head above previous week levels. The majority of this increase took place again in the prime cattle category. The latest figures from the CSO illustrates the impact of the higher supplies to date on beef production. In February, production increased by 15% to 46,200 tonnes.
Live exports of cattle for the week ending 13th of February stood at 14,800, the third consecutive week that live exports were above 14,000 head. To date, total live exports are running some 65 per cent higher at 84,000 head.
In the UK, a steady trade was reported with demand reasonable for all cuts. Demand is expected to pick up in anticipation of the Easter festive period. Trade for steaks and roundcuts remains firm in response to tight supplies on the market combined with very little of this product being imported currently. Demand for forequarter product remains slow, with supplies still more than sufficent for current demand levels.
Reported cattle prices from the AHDB for the week ending 13th March were down slightly with GB R4L grade steers averaging Stg 279.2 pence/kg dw (equivalent to 311.5 cent/kg dw).
On the Continent, a steady manufacturing trade and a slight pick up in hindquarter demand is reported. Ongoing promotional activity in a number of markets is helping to boost volumes.
- In Germany, R3 young bull prices fell by 2/c to €3.13/kg, while O3 cow prices rose by 1/c to €2.30/kg.
- In France, the Irish steer hindquarters are making €4.20/kg, while the German cow hindquarters are making €3.40-3.50/kg.
- In Italy, R3 young bulls are making €3.67/kg, while O3 cow prices are making €2.16/kg