Beef quotes have bottomed out at €5/kg and have started to increase again this week with factory agents very anxious for stock. Most factories are working off a €5.05/kg base price for bullocks and €5.10/kg base price for heifers but more is going in certain locations.

Last week saw a big drop in the bullock kill with almost 1,000 fewer bullocks killed and the lowest kill of bullocks since the first week of January.

The young bull trade is steady with €5.40/kg reported as tops for U grading bulls this week. Cows are also in demand with up to €5.10/kg being paid for U grading cows in specialist outlets this week.

With numbers set to tighten more, quotes are likely to increase further in the coming weeks.