Factory prices for finished cattle are coming under pressure, with some farmers reporting 2p/kg being shaved off deals on prime steers and heifers.

However, price cuts are more severe where farmers are looking to offload young bulls, with cuts of 4p to 6p/kg being applied.

This puts bulls at 384p to 386p/kg, although there are isolated reports of farmers with bigger numbers securing 390p to 392p/kg, but carcase weight limits apply. Steers are moving at 496p to 498p/kg with heifers at similar levels, well ahead of base quotes of 472p/kg for U-3 grades.

Factories have been trying to take quotes for lambs as low as 645p/kg, however, 650p/kg is available, and with agents now purchasing in the runup to the Eid Al-Adha festival on 28 June, agents are being forced to hold prices at 660p to 670p/kg to secure numbers.

Mart prices increased by £1 to £2 per head this week, with £140 to £145 widely paid for slaughter-fit lambs.

Some agents indicate that buying demand will increase over the next few weeks, and with an abundance of grass on farms, farmers are refusing to accept lower prices at present.

Lamb prices in Britain recovered slightly this week and continue to trade from 700p/kg to 730p/kg, while in the Republic of Ireland prices are steady at around €8/kg, which is slightly behind NI factories.