According to Eblex, the number of steers and heifers coming forward changed little on the week and young bull throughputs were lower, meaning support in the market continued to be influenced by the balance between supply and demand.

At around 50c/kg at this time of the year, average prime cattle prices compare favourably to prices achieved during this month in previous years.

And though steers and heifers are trading slightly below last year’s price levels, they still remain notably ahead of the five-year average for the early part of the year.

Strength on the cattle market

Demand for cheaper cuts of beef has helped to maintain strength on the cow market. In the latest week, with robust demand for better fleshed cows, most likely from the suckler herd, average cow prices increased for the fourth week in a row, being up 11c (8p) on the week to €322.68/kg (£234.3p/kg).

Lamb prices

The lamb trade has continued to demonstrate a degree of positivity over the past week. In week ended 25 February, the Standard Quality Quotation was up 3c (2p) on the week at €264.15/kg (£191.8p/kg).

In Ireland prices for lambs for the week ending 22 February stood at €514.24/kg and estimated slaughterings were 35,100.