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LMC Report: Reported Heifer Prices up by Four Pence

12 June 2009

UK - Last week in the face of reduced supply, some of the plants raised their quotes by two pence meaning that by last Friday the prime U3 grade cattle quote was 270- 274p/kg.

This increase in quotes was reflected in the reported prices with the plants having to pay an average of 277p/kg for U3 heifers. This meant that the average paid price for U3 heifers was at least three pence per kilo better than the quotes. Furthermore, some plants paid up to 278-280p/kg last week for U3 heifers showing that producers in a stronger negotiating position can get much better prices for their stock in the current market.

This week the plants are quoting 272-274p/kg for U3 grade steers and heifers, although given that some plants paid much better prices last week, producers are advised that better prices may be available.

There appears to be some upward pressure on cow prices this week. Some of the plants have raised the cow quote and last week’s average reported price for cows was up by four pence per kilo on the previous week to 211p/kg.

Cattle

RoI and GB price comparisons

In the last week of May, average cattle prices in NI were considerably higher than prices in ROI. U3 steer and heifer prices in NI were around eight pence per kilo higher than the equivalent in ROI. The gap between R3 steers was also around eight pence per kilo. However, the gap between young bull prices in the two regions was not as wide with less than a penny difference between R3 grade prices in NI and ROI. Processors in ROI are paying considerably more for poorer cows, with P3 cows getting 13p/kg more in the south.

The gap between Scottish and NI U3 prices remains around 20p/kg for steers while the U3 steer price is Southern England is 12p/kg higher than in NI. Scottish prime cattle prices remain the highest in the British Isles.

Further Reading

- You can view the full report by clicking here.

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