On Saturday, a number of factories paid farmers 5c/kg to 10c/kg above quoted prices.

At the top end of the market a base of €3.85/kg was paid for steers, increasing to €3.95/kg base for heifers. Tighter supplies are as a result of the transition from grass-finished to shed-finished cattle.

An unseasonably dry October has slowed down the housing of stock and this has resulted in a lower number of shed cattle coming for fit for slaughter.

With Christmas orders to fill, factory agents are very keen to secure stock for the weeks ahead.

Currency volatility

After a six weeks of downward pressure, farmers now have an opportunity to drive the trade. Most agents are predicting that the supply and demand situation will see prices break the €4/kg barrier before Christmas. Of course, much will depend on currency volatility.

There has been positive movement in this regard over the past 48 hours, with sterling having strengthened against the euro by just over 3%.

Beef kill forecast to rise by 120,000 in 2017

Cattle to sell – beef prices on the increase

Factories have been very anxious to secure stock over the past 48 hours.