The beef industry is facing a challenging time as supplies remain tight across the country. As a result, prices for factory quotes have been holding firm in recent weeks. Farmers are feeling the pinch as they struggle to maintain profitability in the wake of these challenges. Despite these difficulties, there are still opportunities for those who are willing to work hard and adapt to the changing times. This article takes a closer look at the current state of the beef industry and explores the factors driving factory quotes in Ireland.
Weekly supplies of finished cattle continue to be lower than last year’s levels, resulting in steady factory quotes for beef cattle this week. Processors are carefully managing weekly slaughter numbers in order to maintain a consistent supply pattern, given the expected reduction in beef cattle availability for the second quarter of the year.
Factory agents are surprised that cattle supplies (except for veal) have remained over 30,000 head in recent weeks, and just slightly below 30,000 in one week. Meanwhile, heifers on the grid are being quoted at €5.30-5.35/kg, with breed bonuses still available for eligible Angus and Hereford heifers and steers.
Steers (bullocks) on the grid are being quoted at €5.25-5.30/kg, which is 5c/kg lower than the heifer price. Cow prices vary across outlets, with U-grade cows being quoted at €5.00-5.10/kg and R-grade cows at €4.90-5.00/kg. P- and O-grade cows are being quoted at €4.60/kg and €4.70/kg respectively.
Bulls under 24 months old are being quoted at €5.30/kg and €5.40/kg for R- and U-grade respectively. O- and P-grade bulls are being quoted at €5.10/kg and €5.00/kg. Bulls under 16 months old on the grid are being quoted at €5.25/kg.
In conclusion, the beef industry continues to face challenges in the form of supply chain issues and market fluctuations. However, despite the current thin supplies, factory quotes suggest that beef prices will remain firm for the time being. As always, farmers, producers, and industry stakeholders must remain vigilant and adapt to changes in the market in order to succeed in this dynamic industry. With careful planning and strategic decision-making, there is no doubt that the Irish beef industry will weather these challenges and thrive in the years to come.
