BULLETIN
WEEKLY PUBLICATION OF THE
LIVESTOCK AND MEAT COMMISSION
FOR NORTHERN IRELAND
BEEF TRADE ENDS YEAR ON A HIGH NOTE
Issue No. 2350
Saturday 27 December 2014
F
OLLOWING a very difficult first half
of the year, with reduced farmgate
prices and difficulties in trading
conditions, the beef trade has improved
significantly in recent months. Northern
Ireland farmgate cattle prices have
been on the rise throughout the autumn
and winter of 2014 and the trade
of
signs
show
to
continues
improvement.
Processors are now quoting 360p/kg
across most of the Northern Ireland
plants. However, there are reports that
stronger prices are being paid to
farmers, so producers are advised to
shop around for deals.
The trade across the British Isles was
under pressure early in the year, but the
trade in Great Britain started to recover
in mid-July, with prices rising steadily
into the autumn.
By the first week of September,
Northern Ireland R3 steer prices were
30p/kg lower than in GB levels.
However, increased exports to GB and
intense competition for cattle generated
upward pressure on price with
processors in Northern Ireland having
increased quotes sharply in late
September / early October by 20p/kg
over the space of a fortnight. In the first
week of December, processors
increased quotes by a further 10p/kg.
These developments in the trade mean
that NI prices are now the second
highest in the EU and one year on from
the publication of LMC’s Price
Differential Report, prices here are in
some cases higher than English levels.
In the week ending 20 December 2014
for example, NI R3 steer prices
averaged 362p/kg. This was higher
than prices across any English region,
although Scottish prices remained the
highest across the UK. The R3 heifer
price in Northern Ireland was 361p/kg.
Again this was higher than equivalent
prices in England and Wales, but lower
than Scottish prices. On average, O3
steer and heifer prices were higher than
equivalent prices in England with
Scottish prices the highest in the UK for
these grades.
plainer cows, the gap is even wider, with
the price for P3 cows almost 40p/kg
higher than GB levels. Prices for cull
cows in NI are generally lower than in
ROI, but higher than GB levels.
NI farmgate cattle prices are now very
high relative to the remainder of
mainland Europe and are almost on a
par with GB levels. By recent standards
this is new territory for the NI industry,
and probably reflects the increased
emphasis placed on the UK identity
post-horsemeat, a more responsive live
export trade and relatively tight supplies
in Northern Ireland.
Producers will be hopeful that tight
supplies across the British Isles in 2015
will continue to generate upward
pressure on price. Developments in the
UK retail sector can be critical to the
performance of the NI red meat
industry and the situation there is very
fluid, with some key players losing
market share to discounters. The
response of the large multiples to this
increased level of competition will have
a bearing on the market in 2015.
New opportunities may present
themselves in 2015, with the potential
for access to new export markets next
Last week, GB prices were generally
higher for U3 and R4 grade steers and
heifers. However, in the case of R4
steers, NI prices were ahead of
corresponding prices in Southern
England and the Midlands and Wales,
while remaining lower than equivalent
prices in Scotland and Northern
England.
The prime cattle trade in ROI continues
to lag well behind UK prices, but
southern factories are paying more for
cull cows. Last week, the O3 cow price
in ROI was 247p/kg, about 9p/kg
higher than the corresponding price in
NI and 16p/kg higher than the average
O3 cow price in GB. In the case of
NI FACTORY QUOTES FOR CATTLE
(P/KG DW)
This Week
24/12/14
Next Week
29/12/14
U-3
360p
360p
O+3
348p
348p
R-3
P+3
Cows
354p
-
LAST WEEK'S DEADWEIGHT CATTLE PRICES (UK / ROI)
W/E
20/12/2014
354p
Steers
294-310p
Including bonus where applicable
O+3 & better
230-255p
230-255p
Blues
120-130p
120-130p
Steakers
140-170p
Heifers
140-170p
REPORTED COW PRICES NI - P/KG
w/e
Wgt 220Wgt <220kg
20/12/14
250kg
P1
127.4
136.9
P2
148.4
172.7
P3
170.0
202.6
O3
140.0
229.0
O4
218.0
R3
While the outlook is generally positive,
producers will naturally be cautious.
The tough start to the year serves as a
powerful reminder of the volatility in the
beef trade and the likelihood is that
volatility will continue to be a feature of
the market in the coming years.
Figure 1. Deadweight Cattle Prices for Selected Categories and Grades, in Northern Ireland, Great Britain and Republic
of Ireland, Week Ending 20 December 2014
WEEKLY BEEF & LAMB MARKETS
Prime
year, which would help to sustain the
current strong trade. The US market is
a key target and UK or Irish access to
the American market would have the
potential to have a positive impact on
the beef trade right across the British
Isles.
Young
Bulls
Wgt 250Wgt >280kg
280kg
149.0
160.6
190.4
209.0
210.9
222.6
235.2
239.1
237.0
243.5
297.5
263.1
U3
R3
R4
O3
Notes:
Rep of
Ireland
Scotland
345.8
286.3
355.7
365.5
361.7
360.9
313.3
303.1
302.5
383.9
374.9
376.8
Northern Midlands Southern
England & Wales England
366.7
358.3
372.8
334.3
368.5
356.8
356.7
326.3
372.4
362.3
368.3
355.7
376.1
363.8
365.3
340.1
358.6
353.5
340.2
313.8
321.8
330.2
352.4
363.6
361.2
357.8
344.7
352.3
353.8
346.4
321.9
328.7
323.0
312.1
311.0
298.0
303.1
296.1
280.0
-
373.7
381.8
376.6
377.6
356.3
374.6
369.6
364.8
322.6
336.4
359.0
371.9
359.4
362.0
338.4
357.0
337.4
330.0
299.3
314.9
342.8
376.0
359.7
359.8
329.6
351.7
358.1
338.8
308.1
316.2
338.6
370.8
353.8
355.2
329.5
342.2
361.6
345.3
332.9
331.7
O3
O4
P2
P3
238.5
243.1
195.1
219.2
247.0
248.5
218.6
238.0
237.9
239.5
177.9
198.1
233.7
234.3
196.1
216.6
230.1
232.0
167.6
192.9
218.0
222.4
164.6
193.0
AVG
5103
211.0
-
-
6180
220.2
5632
210.6
5186
190.4
3804
188.9
(i) Prices are p/kg Sterling-ROI prices converted at 1 euro=79.09p Stg
(ii) Shading indicates a lower price than the previous week.
(iii) AVG is the average of all grades in the category, not just those listed
FQAS Helpline
If you have had a recent inspection
and need help and advice to rectify
any non-conformances, contact the
FQAS helpline:
028 9263 3024
GB
368.6
355.1
353.0
AVG
U3
R3
R4
O3
AVG
U3
R3
O3
AVG
Prime Cattle
Price Reported
Cows
Northern
Ireland
337.5
20802
230.6
232.8
174.9
199.5
203.1
Answerphone Service
Factory Quotes &
Mart Results
Updated 5pm Daily
Tel: 028 9263 3011
LAMB QUOTES
(P/Kg DW)
This Week 24/12/14
Next Week 29/12/14
Lambs
390>22kg
390>22kg
REPORTED LAMB PRICES - P/KG
W/E
29/11/14
W/E
06/12/14
W/E
13/12/14
NI Liveweight
354.0
353.6
360.4
NI Deadweight
373.8
377.4
382.5
ROI Deadweight
369.0
370.2
374.8
GB Deadweight
400.5
409.3
422.7
(P/KG DW)
Please note that the reported sheep prices above are for week ending
13/12/14.
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