This week's factory quotes for beef cattle have seen yet another price increase across the board with price quotes now running €2/kg (or €800 on a 400kg carcase) above the same time three years ago.

Beef prices have been on the rise since mid-October 2024 when factory price quotes were at €5 and €5.05/kg for steers (bullocks) and heifers respectively.

Strong demand for beef, coupled with falling beef supplies across Europe, is driving the current price increases, the extent of which appears to have been unexpected by most key players in the Irish beef trade.

This week, heifers are being quoted at €6.40/kg on the grid with steers being quoted at €6.35/kg on the grid.

Some outlets are starting the week off at lower rates offering €6.25-6.30/kg for steers and €6.30-6.35/kg for heifers.

At the higher-end of the price scale, €6.50/kg base price has been tabled in some deals with other flat price deals of €6.80-7.00/kg available for good batches of continental heifers, according to the Irish Cattle and Sheep Farmers' Association's (ICSA) Beef Committee chair, John Cleary.

Breed bonuses of up to 30c/kg remain available for Angus and Hereford cattle.

Cow prices have moved upwards again this week, with up to €5.80/kg tabled for well-fleshed, heavy P grade cows this week.

In the week ending Sunday, February 9, the average price paid for P+3+ grade cows was €5.53/kg with as high as €5.92/kg paid for fleshed P grade cows that week also. The average price paid for P+1+ cows that week was €5.13/kg.

This week, fleshed P grade cows are being quoted at prices ranging from €5.60-€5.80/kg while O grade cows are being quoted at €5.70-5.90/kg.

There is plenty of variation in prices between outlets this week with some farmers managing to secure higher rates for cows.

R grade cows are being quoted at €6.00-6.10/kg in general, while U grade cows are being quoted at €6.20-6.30/kg.

Under-24-month bulls are being quoted at €6.70-6.80/kg for U grades with €6.60-6.70/kg being quoted for R grade bulls.

O grade bulls are being quoted at prices ranging from €6.50-6.60/kg depending on the outlet and the specification of the bulls and P grade bulls are being quoted at €6.40-6.50/kg in general.

Under-16-month bulls are being quoted at €6.30/kg on the grid in general this week.