The Australian beef industry is buzzing with excitement as news of increased breed bonuses for Hereford cattle has been announced. This bonus is a well-deserved reward for farmers who raise high-quality Hereford cattle and target the finishing of their animals during periods of peak demand.
But what exactly does this boost in breed bonus mean for cattle farmers across the country? Let’s dive into the details and explore how this news is impacting the market.
### Hereford Breed Bonus: An Opportunity for Farmers
The Irish Hereford Prime beef producer group has confirmed an increased bonus of 25c/kg for Hereford cattle for the autumn and early winter period. This bonus will be available at ABP Food Group and Kepak Group sites throughout Ireland for qualifying steers and heifers.
If you are a cattle farmer with Hereford cattle, now is the time to take advantage of this opportunity. But remember, only animals booked in by September 30, 2024, will be eligible to receive the 25c/kg bonus. So, don’t delay in making your bookings to reap the benefits of this increased breed bonus.
### Factory Quotes: Heifers and Steers
For those in the beef industry, factory quotes are always a hot topic of discussion. This week, bullocks (steers) are generally being quoted at €5.00-5.05/kg on the grid, while heifers are being quoted at €5.05-5.10/kg. In-spec animals with carcass weights ranging from 300-400kg have the opportunity to fetch even higher prices of €5.10 and €5.15/kg for steers and heifers, respectively.
The news of increased breed bonuses is a positive signal for the prime cattle trade as we head into the final quarter of the year. Farmers can look forward to better returns on their quality cattle, thanks to these bonuses.
### Cows: A Strong Market
The cow market continues to remain strong, with positive price trends and steady demand. Despite challenges with grass supply in some regions, September has been a good month overall for farmers, thanks to dry weather conditions. Pricing for cows varies by grade, with P grade cows being quoted at €4.40/kg, O grade cows at €4.50/kg, R grade cows at €4.70-4.80/kg, and U grade cows at €5.00/kg and above.
The weighted average prices paid for cows by grade in the week ending Sunday, September 15, offer insight into the current market conditions. It’s important for farmers to stay informed about pricing trends to make the most of their cattle sales.
### Bulls: Positive Trends Continue
The bull trade is also experiencing positive momentum, with prices of €5.30 and €5.20/kg being quoted for U and R grade bulls, respectively. O grade bulls are fetching €5.00/kg, while P grade bulls are being quoted at €4.90/kg. Under-16-month bulls are generally being quoted at €5.00-5.05/kg on the grid.
With all the usual bull beef outlets remaining active, farmers raising quality bulls can look forward to favourable market conditions. It’s essential to stay updated on pricing trends and market dynamics to make informed decisions about bull sales.
### Conclusion
The increased Hereford breed bonus is an exciting development for cattle farmers in Australia, offering them an opportunity to earn higher returns for their quality Hereford cattle. This boost in bonuses, along with a positive market outlook for heifers, steers, cows, and bulls, paints a promising picture for the beef industry as we head into the final quarter of the year.
Don’t miss out on the chance to take advantage of these incentives and secure higher prices for your cattle. Stay informed, make strategic decisions, and seize the opportunities that come your way in the dynamic world of Australian beef farming.
