This week's factory quotes for beef cattle have seen most processors move to reduce their price offers by 10c/kg.

May is generally a positive month for the Irish beef trade and price cuts are this time of the year are very unusual.

Procurement managers have told Agriland that reduced demand for Irish beef from key markets, including the UK, is the main cause of the price cuts.

Factory quotes: Heifers and steers

This week, heifers are generally being quoted at €6.60/kg on the grid and steers are generally being quoted at €6.50/kg.

Some outlets are tabling €6.60/kg for both heifers and steers this week. Others are paying slightly higher rates but say that the reduced prices will set into the trade later in the week.

Angus breed bonuses are generally ranging from 15-20c/kg on eligible cattle, while Hereford breed bonuses are generally ranging from 5-10c/kg on eligible cattle again this week.

Cow price

Fleshed, 'P' grade cows are being quoted at €6.00/kg this week. Some of the higher cow price offers from last week have been reduced for this week.

'O' grade cows are being quoted at €6.10/kg, with €6.20/kg quoted for better-type 'O' grading cows in cases.

'R' grade cows are being quoted at €6.30/kg, and 'U' grade cows are being quoted at €6.40-€6.50/kg.

Bulls

Under-24-month bulls are being quoted at €6.80/kg for 'U' grades, back 10c/kg since last week.

'R' grade bulls are being quoted at €6.60-€6.70/kg in general. 'O' grade bulls are being quoted at approximately €6.50/kg and 'P' grade bulls are being quoted at approximately €6.40/kg.

Under-16-month bulls are being quoted at €6.50/kg on the grid in general this week.