Beef prices have jumped by 10c/kg to 15c/kg over the past week. Farmers with in-spec stock are now securing up to €4.30/kg for R grading steers and heifers.

Flat prices of €4.20/kg have been paid for dairy-bred stock. The increase in buying activity comes as the reopening of the food service sector in Britain pushes up demand.

With the British beef market currently returning the equivalent of €5/kg for prime steers, it is expected that Irish prices will rise further in the days and weeks ahead.

The British price is continuing to fuel a strong live export trade to Northern Ireland.

Live exports of cattle for further feeding from the Republic of Ireland to Northern Ireland have doubled for the first three months of 2021.

Meanwhile, the Irish Farmers Journal understands that Minister for Agriculture Charlie McConalogue has written to Chinese authorities seeking the reopening of the beef trade.

Regaining access to China would provide a further boost to the beef sector at a time when global beef prices are strengthening.

Beef prices in Brazil, the main beef exporter to China, have increased by 33% since this time last year.