With supplies of farmers cattle having tightened significantly over the past week farmers have secured a base of €4.20kg for steers and €4.30kg for heifers over the course of the weekend.

This is despite some factories continuing to try and quote as low as €4.10kg and €4.20kg for steers and heifers respectively.

Along with tighter supplies the increased demand for stock is being fuelled by strong demand, specifically from Britain where supplies of finished cattle are also reported to have tightened.

At current exchange rates Irish beef remains competitively prices relative to the British market. Some industry sources predict that a further 5c/kg will have to be added to the trade as the week progresses.