Supplies of finished cattle are growing increasingly scarce, forcing some processors to raise base quotes by 4p/kg and offer deals well above 480p/kg this week.
Official base prices now sit on 464p/kg for U-3 cattle. But most reports indicate processors are working from a starting price of 480p/kg, with 482p/kg widely available.
Farmers also report penalties on out of spec stock are also being waived to secure numbers, as well as deals being offered that include free transport.
The cow trade is exceptionally strong, with 410p/kg available for R grading cows, with 10p/kg to 15p/kg more paid on animals with higher conformation.
Marts
The live trade is also seeing cattle supplies tightening, with mart managers reporting a sharp drop in the number of short-keep cattle presented during the past fortnight.
With limited numbers, competition between feedlot operators is intense and prices of 290p/kg to 310p/kg have been commonly paid for good-quality stores.
Outlook
Looking forward, Livestock and Meat Commission (LMC) data shows that cattle numbers are expected to remain tight this spring. Based on APHIS figures at 1 February, there were 9,786 fewer beef cattle on farm aged between 18 and 30 months when compared to the same date last year.
Hoggets
Supplies of slaughter fit hoggets are also tightening, pushing local plants to raise base quotes by 10p/kg to 530p/kg, despite Irish plants pulling prices this week.
Deals of 535p to 540p/kg are being reported by larger finishers as factory agents look to secure a steady supply during March when buying for the Ramadan festival ramps up.
Consultation opens for new renewable support scheme for Northern Ireland