Cows hold firm while prices for steers, heifers and bulls jump
Ballydoyle may have had two big wins with Camelot and St Nicholas Abbey at Epsom over the weekend but it's probably fair to say that the past week brought three successes to the beef trade with steers, heifers and bulls all strengthening in price.
Rumours of a drop in cow price have failed to dampen the atmosphere on the basis that they remain rumours.
The plainer cow is showing a bit of a reduction as far as the quotes are concerned but the O+, R and U are all holding firm. Prime cattle supplies remain tight with plants under a lot of pressure to satisfy their demands.
A 5c/kg increase to the steer trade sees the general run of base quotes and prices at 415-420c/kg. In-spec R grade bullocks continue to command up to 432c/kg in the northwest with the Us making 444c/kg.
Those grades in the heifers are at 438c/kg and 450c/kg respectively. Elsewhere, the general base quote for the heifers runs from 425-430c/kg with some farmers negotiating base prices of up to 435c/kg.
The best I heard for bulls was 430c/kg flat for a mix of R and U grades under 430kg deadweight and less than 24 months in the east.
Quotewise, the Us are ranging from 425-432c/kg with the Rs at 415-425c/kg. O grade quotes run from 400-414c/kg. IFA livestock chairman, Henry Burns said that with the European Championships starting this week and the ongoing buying of product for the Olympics, the factories have to raise their prices to secure adequate supplies of beef.
The R and U grade cows seem to be holding on to the recent strong quotes but there is a pretty plain attempt being made to pull the lesser grades by a number of plants. Quotes for the P+ types are in the 350-370c/kg bracket with the O grades ranging from 360-382c/kg.