Feed price quotes have increased by €30/t on average this week, with some feed mills holding off until next Monday 21 March to introduce price hikes.

Some buyers will be paying as much as €100/t over the ration price they were locked into during the winter months.

The increase is being blamed on a significant spike in the price of raw materials on the back of Russia’s invasion of Ukraine.

The indication from the feed industry is that this will not be the only increase in the coming months, with a similar rise to be expected in the next six weeks if the market for raw materials remains unstable. Securing supply is currently as much a concern as price itself.

The latest price rise sees a standard beef finishing ration trading from €340/t to €360/t, as much as €120/t ahead of the same time last year. For a finishing bullock over an 80-day feeding period, it results in an additional €86/head in concentrate costs alone or on a beef price equivalent it adds 21c/kg carcase to the feed bill.

Bull beef systems will be hardest hit with last year’s spring-born bulls currently transitioning to ad-lib concentrate diets. Compared to last year, the cost of bringing an under-16-month bull to finish will be in excess of €150/head in concentrate feeding alone.