After three to four weeks of negativity in processor circles, the beef trade appears to have finally turned a corner this week with quotes holding and – in some cases – improving on where they were at this point last week.

Most bullocks are moving at €7.40/kg base price this week with a few trading for as high as €7.50/kg base price.

Heifers are, generally, being bought at €7.50/kg base price, but again there are a number of deals being done for higher prices on the edges.

A number of the independent factories have had to break ranks again to guarantee supplies with some quoting prices 20c to 30c/kg higher than what is available with the bigger players this week.

Some of the larger factories tried to go as low as €7.30/kg last week, but this plan backfired and they got very few cattle at the lower quotes, and some of those quoting lower prices have had to improve 10c/kg this week to get the cattle.

Forecast

It was always anticipated that numbers would tighten in May as shed cattle dry up and grass cattle still along way off coming fit. Numbers are likely to stay tight for the next few weeks with some even forecasting that numbers will remain tight for the rest of the year.

The supply is only one side of the story though, with demand also very strong. Both the NI and British trade haven’t seen any negativity in the last few weeks, with the UK market up another 2.5p/kg for bullocks last week.

The cow trade also has a little more life in it this week, although it never really took the hit that prime beef did in the last few weeks.

U grading cows continue to work off a quote of €7.50/kg, with more going to those with numbers.

R grading cows are generally trading at €7.30/kg to €7.40/kg while O and P grading cows are working off quotes of €6.90/kg and €6.60/kg, depending on the breeding background.

Bulls are also in demand, with up to €7.80/kg still available at the top end for U grading bulls, working back to €7.20/kg to €7.30/kg for O grading bulls.