It was largely dull and overcast at the Teagasc national beef open day this week. However, farmers had a pep in their step with many basking in the sunshine of record weanling and beef prices.

There was a view that these record prices are now the new norm – reinforced by the fact that most of the Teagasc modelling on the economics of the various production systems assumed a base price of €5/kg – a 25% increase on the base price used within the models presented in 2018 at the last open day. Meanwhile, the models assumed a weanling price of €3/kg liveweight.