Beef prices have strengthened again this week, rising by 5c/kg to 10c/kg in some factories, IFA livestock chair Brendan Golden has said.
The IFA has attributed the positive trend to the strong performance of supermarket trade and tight supplies.
Golden said the latest 12-week supermarket sales data up to the end of December show beef sales increased by 9.7% in volume and 2.8% in price, returning an increase of 12.8% in spend on beef compared with the same period in 2019.
The IFA livestock chair said the prime export benchmark price has strengthened in the past week, reflecting the conditions in key export markets.
Golden continued: “Bullocks are making €3.80/kg to €3.85/kg, heifers are making €3.85/kg to €3.90/kg, with factories paying more for larger or specialist lots.
“Cows are ranging from €3/kg for P grades to €3.50/kg for good R and U grades, with flat deals for P and O grading cows of €3.10/kg to €3.20/kg available.
"Young bulls are starting at €3.65/kg for O grades and moving up to €3.80/kg or €3.90/kg for R and U grades in some factories.”