This week's factory quotes see the opening cattle price offers 10c/kg lower than last Monday (April 21).

Prices have been in decline for the past three weeks after peaking at a record unprecedented high in the second week of April.

Despite the price drop this week, beef price remains in a relatively good position, but farmers who have purchased expensive cattle this spring will be hoping the price cuts level off or are reversed as the summer months progress.

This week, steers (bullocks) are being quoted at €7.40-7.50/kg on the grid, with heifers being quoted at €7.50-7.55/kg on the grid.

Farmers can click here to estimate the value of their cattle using the Agriland beef price calculator.

Breed bonuses on Angus and Hereford cattle are generally ranging from 30-20c/kg.

Flat-price deals are much less available than earlier months but are still being struck in some cases.

Most factories have decided not to fill out kill sheets to full capacity this week, and the upcoming four-day week will reduce the number of cattle needed to fill out the kill sheets for next week also.

There is growing concern among factory procurement staff with regard to cattle supplies into May and June, with market signals suggesting a very tight supply over the coming weeks.

Cow price has come under pressure in the past three weeks also, albeit factory cow price quotes are still over €2/kg above this time last year.

'U' grade cows are being quoted at up to €7.20/kg for this week, with €6.80-6.90/kg the general run for 'R' grade cow quotes this week.

'O' grade cows are being quoted at €6.60-6.70/kg and 'P' grade cows are being quoted at €6.40-6.50/kg this week.

Under-24-month bulls are being quoted at €7.60 and €7.50/kg for 'U' and 'R' grades, with €7.30-7.40/kg being quoted for 'O' grades and €7.20-7.30/kg being quoted for 'P' grade bulls this week.

Under-16-month bulls are being quoted at €7.40-7.50/kg on the grid this week in general.