There have been clear signs in many areas of stronger demand for cattle in recent days. While factories may be anxious to strengthen throughput there is little appetite to increase prices paid across the board.

This is leaving the majority of steers continuing to trade on a base of €3.65/kg while heifers are mixed between a base of €3.65/kg and €3.70/kg. This situation very much varies across plants.

Where a base of €3.65/kg was the going rate for heifers there are more reports of farmers negotiating a base of €3.70/kg.

While still in the minority there are more reports of farmers securing a base of €3.72/kg to €3.75/kg for choice heifers, deals involving large numbers or to larger-scale finishers.

Flat-priced deals for Angus heifers range from €3.80/kg to €3.85/kg on average with a few cent more going in places. The highest prices continue to be reported in the North West and west.

The number of bulls in the market is steady. The trade is unchanged at a price range of €3.60/kg to €3.65/kg for U grades, €3.50/kg to €3.55/kg for R grades and a wider differential of €3.20/kg to €3.40/kg for O grades.

There is also a wide differential in the base price offered for bulls less than 16 months and trading on the grid.

At the bottom of the market a price of €3.50/kg has been reported but most plants are starting negotiations at a base of €3.55/kg and rising 5c/kg to 10c/kg for specialist finishers or those tied into supply agreements.

Cows remain in favour to supplement throughput. P+3 grades average €2.85/kg to €2.95/kg with some deals at the top-end of the trade reported 5c/kg to 10c/kg higher.

O grades average €2.95/kg to €3.05/kg with R grades typically selling from €3.15/kg to €3.25/kg. U grades meanwhile are meeting a wider differential with plants with low levels of activity paying up to €3.30/kg while top prices are rising to and in cases toping €3.40/kg in plants most active for well conformed heavy carcase cows.

Northern trade

The number of cattle exported north for direct slaughter eased marginally to 277 head last week.

Northern buyers remain active in marts but the number of special fatstock sales and slaughter-fit cattle has reduced the offering.

There is no change in the trade in northern plants. Base U-3 steers and heifer quotes continue to average around the £3.30/kg to £3.34/kg mark.

Sterling strengthened to 83p to the euro on Wednesday leaving this equating to €3.98/kg to €4.02/kg and €4.19/kg to €4.24/kg including Vat at 5.4%.

Top returns continue to rise to £3.40/kg or slightly higher in cases for heifers.

Beef market tracking

The latest Bord Bia market tracking analysis shows the Irish prime composite price and the EU benchmark price mirroring each other at €3.58/kg excluding VAT.

The addition of cows to the composite makes no difference to the comparison with both prices matched at €3.42/kg.

The prime Irish composite price is 1% down on the corresponding period in 2019 with the EU benchmark falling by a greater level of 2.3%.

Looking at steers and young bulls on their own shows Irish steers averaging €3.66/kg, EU young bulls averaging €3.62/kg and UK steers significantly higher at €4.00/kg with all prices excluding VAT.

The Irish R3 steer price at €3.62/kg excluding VAT, is reported as running 2c/kg ahead of 2019 levels for the year-to-date.