The recent jump in global beef prices is starting to take effect in Irish processing plants, with €3.50/kg being paid for steers and €3.55/kg available for heifers.

There is also €0.10/kg extra being offered for China eligible cattle on top of in-spec bonuses and breed bonuses in some factories. This means prices of €3.80/kg to €3.90/kg are being paid when all bonuses on eligible cattle are taken into account.

Factories have also been active around mart rings in the last few days filling feedlots after a period of reduced buying activity. IFA president Joe Healy said: “There is a clear gap of 17c/kg between the new European (prime export benchmark) price and Irish prices, which has opened up since early August. This is unacceptable,” he said.