Past two months' trade has surprised both the finishers and the factories
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An end-of-the-year trade like never before is on the cards for beef finishers as the final days for slaughtering for 2024 approaches.
The factory prices for both steers and heifers remain solid this week with a further slight increase being added to the all-time record returns which has benefited the finishers over the past weeks.
"The trade for the past two months has taken both the finishers and the factories by surprise — I don't think that either had expected it" is the summary of the reaction approaching the final days of 2024.
"It is not very long ago that over 30,000/head/week was a benchmark level to put the return to finishers under pressure to get a decent price and this year we've seen over 39,000/head/week being processed and the factories looking for more," one supplier said this week.
"It is generally accepted now that the quality of Irish beef has improved immensely over recent years and there is a market there for it at a premium price which is beginning to deliver a better return to the producers" he added.
Steers are moving on a base of 545-555 cents/kg and a shade more going for larger lots at factories under pressure to get the extra intake. Heifers are generally on a base of 550-560 cents/kg.
The R-grade young bulls are making 560-570 cents/kg and there us a roaring demand for the cows with R-grade making 535-545 cents/kg in anticipation of stronger consumer demand for the cheaper cuts of meat in January, when the average household spend on expensive meat cuts normally comes under some pressure.
With only a couple of days left for slaughtering pre-Christmas, there is no sign of any easing in the demand for stock, despite the intake remaining high in comparison with prior years. The factory throughput for December appears to be on course to hit an all-time high by the end of the month with the prices paid also at a record-breaking level.
The processors are hungry for as much stock as they can get this week, being the last full week of operation pre-Christmas. But the holiday break will be very short for a number of the operations with plans to slaughter on Monday, December 23, and resume slaughtering again on Friday, December 27, to replenish the shelves for the post-Christmas demand.
After four consecutive weeks of intake exceeding 39,000 head, the supply for last week dipped to 38,631 head, which included 12,039 steers, 11,359 heifers, 12,253 cows and 2,438 young bulls.
