Latest Update on Irish Cattle Trade and Prices
Throughput
There were 39,854 cattle processed in DAFM approved plants during the w/e 28th September 2024, taking throughput for the year to date to 1,302,187 head. This is a <1% decrease on the corresponding period in 2023 when a total of 1,304,095 cattle were processed.
There have been 957,868 prime cattle processed in the 39 weeks of 2024 so far, a 1% decrease from the same period last year (-3,251 head). Cow throughput has remained strong with 273,476 cows processed so far this year, a notable increase of 321,403 head (+9%).
Quotes
Factory quotes remain stable being similar to what was quoted last week. In general, producers were offered a base price of €5.00/kg to €5.05/kg for steers. Starting quotes for heifers are in the region of €5.10/kg to €5.15/kg this week similar to last week.
The trade for young bulls was also described as steady, still working off a base of €5.35/kg- €5.40 and €5.20/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 €4.50-4.65/kg, with a range of €4.70-4.80c/kg available for good quality R grading cows.
Prices
For the week ending 28th September 2024, the average price paid by Irish beef processors for R3 increased marginally by 1c/kg to €5.05/kg. This remained 39c/kg ahead the corresponding week in 2023 when the R3 steer price was €4.66/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 €5.23/kg (excluding VAT) for the week ending 28th September, 2024. This is 38c higher than week 39 of last year when prices averaged €4.85/kg for this R3 young bulls.
In Britain, tighter cattle supplies and firm demand have meant deadweight beef prices have remained firm again. This week the average UK R3 steer price remained at €6.05/kg (equivalent to £5.06/kg)
