Factory Quotes: Positive Sign for Livestock Price
Looking at this week’s factory quotes, it appears cattle prices have held at the same price levels as last week with prices well positioned for a potential increase.
During the week ending July 30, both the EU and UK The average price for premium R3 male cattle recorded an increase, while the Irish price continued to decline. This left the average Irish price at €4.83/kg, 13c/kg less than the EU average and 40c/kg less than the UK average price.
Livestock supplies remain strong in most parts of the country and some processors have tried to take advantage of this by reducing quotations; however, overall livestock prices have held up this week.
Factory quotes for steers and steers start at €4.80/kg and top out at €4.90/kg, with heifers being quoted at €4.90-4.95/kg.
Cow price continues to vary across the country, but the general range of quotes this week is €4.65-4.70/kg for R grades and €4.75-4.80/kg for U grades.
Grade O cows are quoted between €4.45 and €4.50 and grade P cows are quoted between €4.35 and €4.40/kg.
More money is being paid to farmers than processors are quoting with the Department of Agriculture, Food and Marine (DAFM) weekly market reports for the week ending July 31 showing a price weighted average of €4.96/kg paid for grade U3 cows and €4.84/kg paid for grade R3 cows.
Official figures show €4.59/kg was paid for O3 quality cows and €4.46/kg was the weighted average price per kilo (including VAT) paid for P3 quality cows that week.
Prices similar to these are likely still available for cows with many processors, despite the lower prices.
Processors remain fond of all types of cows and a heavy, meaty cow weighing 270 kg carcass is the animal of choice in this category. Many light, lean cows are processed, so heavy, well-finished cows are in high demand and market prices per kilo reflect this trend.
Bulls under 24 months are quoted at 4.90 €/kg and 4.80 €/kg for grades U and R with 4.70 €/kg for grade O bulls and 4.60 €/kg for grade P bulls.
Bulls under 16 months are listed at €4.80/kg on the grid.
For more information on factory prices, click here.