Record prices are being paid for finished cattle in marts this week. Farmers selling through the mart ring are attracting a premium of up to €150/head more than those selling direct to the factory.

MartBids data shows that at the top end of the market, quality U/R+ grading heavy bullocks are selling for the equivalent of €5.70/kg deadweight.

Beef cows are also meeting an exceptionally strong trade, with the equivalent of €5.30/kg deadweight being paid around the ring.

The record prices reflect exceptionally strong demand for beef from both the British and EU markets at a time when finished cattle supplies are exceptionally tight.

Furthermore, market analysis would indicate that there is potential for Irish beef prices to increase further.

Irish factories continue to lag 30c/kg behind the EU market, where young bulls are selling for €5.64/kg.

Meanwhile, a strong live export market is also putting a floor under the trade for lighter cattle, with prices typically running 30c/kg to 40c/kg ahead of last year.

The number of cattle exported live is up 12,000 head, or 10% year on year.

Read more in Beef Trends and in our mart analysis.