Finishers are holding all the aces as prices climb steadily

Steers Heifers Cull Cows Young Bulls FIGURES from our nearest neighbour show that in the first two months of 2018, Ireland continues to be the biggest supplier of beef into the UK.

Total beef imports by the UK in those two months totalled 42,844 tonnes with 30,280 tonnes, or almost 71pc, originating in Ireland and most of that was from the Republic.

This 42,844 tonne figure is a 2.9pc increase from the corresponding period in 2017 and 11pc higher than the corresponding period in 2016.

These figures give some indication of not only our dependence on our nearest neighbour. They also indicate the scale of the problem faced by the UK government should they choose to try to replace those Irish imports in the future, especially given that only 2,819 tonnes of British beef imports originated from outside the EU.

This helps to explain how our processing sector has been able to continue to slaughter between 32,000-34,000 cattle a week over the last two months with prices actually edging upwards.

Prices paid for stock towards the end of last week included €4.15/kg bases for bullocks, while heifer base prices were as high as €4.25/kg. On the bull front, heavy 16-24 month U grades made €4.15-4.20/kg with factories reported as “glad to get them”.

It has not yet become a case of deals done regardless of price, but the pendulum has swung back in favour of the finisher.

As of yesterday, most plants were quoting from €4.05-4.10/ kg for bullocks with the top being €4.15/kg.

Heifers ranged €4.15-4.20/ kg with €4.25/kg also reported. The cow trade is rock solid with Rs making up to €3.85/ kg. 16-24 month U bulls made €4.20/kg.

All in all the sun is starting to shine on the factory price front.