Factories are struggling to match supplies with demand and beef farmers should sell hard as a result, according to the Irish Farmers' Association (IFA).

The comments come as prices are reported to have increased by between 5c/kg to 10c/kg this week.

IFA Livestock Committee Chair Brendan Golden explained that base prices for steers are now ranging from €4.35/kg to €4.50/kg, while heifers are fetching between €4.40/kg and €4.55/kg.

He noted that higher prices are being offered for larger and specialist lots.

"Young bulls are making €4.25/kg to €4.45/kg for R/U grades. Cows continue to make between €3.65/kg and €4.10/kg depending on grade, with specialist factories at the higher end," Golden outlined.

Live export demand for forward store and finished cattle from Northern Ireland has provided competition and is underpinning the trade.

The IFA chair said that reduced volumes of south American imports will work to Irish farmers' advantage in the UK and EU. He urged factories to take full advantage of the market conditions to maximise returns to farmers.

"Factories are actively seeking cattle and farmers should sell hard to maintain the upward momentum in beef prices," he advised.

However, similar to other sectors, the price increases being seen by beef farmers are being "outstripped" by spiraling input costs.

The IFA chair explained that these cost increases are "not sustainable" especially for low-income farmers who do not have the capacity to absorb them.

“Beef farmers have to be protected from this level of volatility. It’s up to factories to ensure beef prices returned to farmers fully cover these costs,” he demanded.