LMC: Higher Prices Than Quotes Would Suggest

UK - Average steer and heifer deadweight prices were down 1p/kg with R3 heifer prices down 3.2p/kg at to 364.5p/kg, according to the Livestock and Meat Commission for Northern Ireland in their weekly bulletin.
calendar icon 5 February 2013
clock icon 3 minute read

Quotes from the plants this week for U-3 grade prime cattle were 334-336p/kg with the 8p/kg bonus available for in spec steers and heifers. However higher prices than quotes would suggest continue to be available as discussed in the main article of last week’s bulletin.

Quotes for cows this week ranged from 265-280p/kg for first quality cows. Similar quotes are expected for Monday. Some of the plants are reporting a tightening in cattle numbers, particularly for in spec cattle.

Throughput of prime cattle last week was similar to the corresponding week last year at 6,774 head. Meanwhile cow slaughterings last week totalled 1,806 head, back 300 head on the previous week.

There are reports that penalties on out of spec cattle are being tightened with some factories reportedly reluctant to take non FQAS stock.

The average steer price in NI last week was almost unchanged at 332.9p/kg while the average heifer price was up 2p/kg to 337.7p/kg, 2p/kg above the U-3 base quote of 336p/kg. R3 steer and heifer prices showed a similar trend with R3 steer prices almost unchanged at 341.0p/kg and R3 heifer prices up 2p/kg to 344.8p/kg. The average young bull price last week increased by 1p/kg to 324.1p/kg.

In GB average steer and heifer prices were back in the region of 1p/kg to 365.7p/kg and 362.3p/kg respectively. This was generally representative of trade across the regions with the average price paid for steers and heifers back slightly in the majority of regions. R3 steer prices in GB were back by 2.2p/kg to 368.5p/kg while R3 heifer prices were back 3.2p/kg to 364.5p/kg.

The biggest decline in R3 steer and heifer prices was recorded in the Midlands where they were back by 4.5p/kg and 5.6p/kg respectively.

Meanwhile in Southern England R3 steer and heifer prices were almost unchanged at 365.1p/kg and 362.2p/kg respectively. The price differential between NI and the average GB price for R3 grading steers last week was 27.5p/kg. This ranged from 24.1p/kg in Southern England and widens as you move northwards to 32.1p/kg in Scotland.

Meanwhile in ROI prices have remained fairly similar to the previous week in euro terms but an improvement in the value of the euro against sterling has meant prices have increased in sterling terms. R3 steer prices increased the equivalent of 4.4p/kg to 339.2p/kg while R3 heifer prices increased by 4.8p/kg to 354.6p/kg. Prices in ROI last week were above NI prices for the majority of reported grades.

Deadweight Summary

Finished first quality steers sold to an average of 199p/kg this week with second quality steers selling to 182p/kg. This was a similar trade to last week. The trade for finished heifers was also similar to last week with first quality heifers selling to an average of 196p/kg.

First quality beef cows sold to an average of 170p/kg this week compared to 175p/kg last week with dairy type cows selling to 124p/kg (130p/kg last week). Store bullocks up to 400kg sold to 195p/kg this week compared to 206p/kg last week. A similar trend can be observed for the majority of categories of store cattle.

TheCattleSite News Desk

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