LMC: Tight Supplies and Bonus Scheme See Higher Beef Prices23 September 2013
UK - Beef plants in Northern Ireland increased prices 10p/kg over the course of last week as a reaction to strong demand and tight numbers of cattle.
Deadweight Cattle Activity
Prime cattle imports were almost 20 per cent of prime cattle kill after increasing to 1,119 with more cows entering from the Republic of Ireland, according to reports from the Livestock and Meat Commission.
Quotes have increased for U-3 grade prime cattle to hold around 364 p/kg for steers and 364-366 p/kg for heifers. The effect of the revised bonus scheme, adopted by several processors last week has added 6 p/kg.
LMC analysts reported that quotes for 0+3 grade cows also increased last week to 275-290 p/kg.
Tight supplies mean slaughter figures are 16 per cent lower that at the same time in 2012. However, the week's cull total stepped up 310 head on the previous week, reaching 5,739.
Cow culling increased 7 per cent to 1,606.
Average steer price was up 2 per cent to 358.4 p/kg while heifers increased 5 p to 361.4 p/kg.
R3 heifers were down 4.3 p/kg to 369.7 p/kg whereas O3 heifers increased 8.4 p/kg to 358.4 p/kg. Cow prices also increased strongly to 6.2 p/kg on the previous week to 253.9 p/kg.
Around the UK
Average prices increased by 2.7 p/kg around Great Britain to 394.5 p/kg. Northern England did not fare so well where prices were back 1.2 p/kg.
Heifer price increases were particularly marked in the Midlands and the South - up over 9 p/kg.
Young bulls were up across all regions of Great Britain.
Meanwhile, in the Republic of Ireland, finished trade continued to be 'under pressure' with R3 steers and heifer back 7 p/kg.
Liveweight Cattle Trade
Top finished steers managed 216-244 p/kg, an average of 220 p. Second quality animals managed 190 215 p/kg, heifers peaked at 227 p/kg.
LMC analysts said that heavier store cattle recorded 'good trade' with store bullocks over 500 kg averaging 210 p/kg with second quality selling to an average of 183 p/kg.
Heifers over 450 kg average 210 p/kg with second quality heifers managing 187 p/kg.
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