Irish Cattle Trade & Prices Update
Throughput
There were 33,058 cattle processed in DAFM approved plants during the w/e 24 August, 2024, taking throughput for the year to date to 1,134,248 head.
This is on par with the corresponding period in 2023 when a total of 1,132,248 cattle were processed. There have been 812,537 prime cattle processed in the first 34 weeks of 2024, a 1.7% decrease from the same period last year (-13,841 head).
Cow throughput has remained strong with 280,823 cows processed so far this year, a notable increase of 25,820 head (+10%).
Quotes
There was a steadying in the base quotes at Irish meat plants this week in response to tighter supplies of suitable cattle. In general, producers were offered a base price of €5.00-5.05/kg for steers with reports of up to €5.10/kg available. Starting quotes for heifers are in the region of €5.10-5.15/kg this week with similar room for negotiation being reported.
The trade for young bulls was also described as steady, with prices of between €5.20/kg and €5.30/kg on-offer for R grading animals under 24 months of age.
The cow trade remains relatively steady, with well-fleshed O grading cows being offered prices of €4.30-4.40/kg, with a range of €4.75-4.80c/kg available for good quality R grading cows. A significant proportion of the cow kill have achieved a conformation score of P in recent months and the prices available for these animals vary significantly based on grade, weight and quality.
Prices
For the week ending 17 August 2024, the average price paid by Irish beef processors for R3 increased marginally to €5.02/kg. This remained 28c/kg ahead the corresponding week in 2023 when the R3 steer price was €4.72/kg.
Note that reported prices exclude VAT but include all bonus payments such as in-spec bonus, breed-based producer groups etc. Across the EU, the average reported price for R3 grading young bulls was €5.07/kg (excluding VAT) for the week ending 10 August, 2024. This is 29c higher than Week 33 of last year when prices averaged €4.78/kg for this category.
In Britain, tighter cattle supplies and firm demand have meant deadweight beef prices have started to firm again. This week the average UK R3 steer price increased by 3c/kg to €5.70/kg (equivalent to £4.90/kg)
