Beef prices of €6/kg are within touching distance as the red-hot demand sees farmers with finished cattle worth €450/head more than this time last year.

The record prices are being fuelled by exceptionally tight supplies of finished animals, alongside strong market conditions throughout continental Europe and in Britain.

Exceptionally strong demand for manufacturing beef has seen factory agents regularly pushing prices for heavy beef cows in marts to over €3,000/head.

Similarly, a significant premium over the deadweight price is being paid for heavy steers and heifers, with the equivalent of over €6.20/kg deadweight paid in marts this week for good-quality lots.

Meanwhile, figures from the Department of Agriculture show beef processors are becoming increasingly reliant on feedlot cattle to maintain throughput.

Feedlots

Feedlot cattle have accounted for 23% of overall cattle slaughterings this year compared to 20% for the same period in 2021.

The strong beef prices have put a solid floor under the weanling trade. MartBids data shows top-quality weanlings generally selling for €3.10/kg to €3.30kg.

This is an increase of €180 to €220 per head on last year.

Read more in Beef Trendshere.