Weanling prices have hit a five-year high.

Farmers are securing €40 to €50 per head more for weanling bulls this year than in 2020 and almost €100 per head more for heifers, analysis of Irish Farmers Journal MartBids data shows.

When compared to the difficult trading conditions experienced in 2019, prices have increased by €120 to €180 per head, with heavier bulls up by over €200 per head.

Farmers with better-quality stock are enjoying the biggest uplift as buyers pay an increased premium for U- and R-grading animals.

Data shows the price gap between the top third and bottom third of weanlings to be running at almost €300 per head, compared to a five-year average differential of €196 per head.

The increased demand for better-quality stock comes as CSO figures show the national suckler cow herd to have declined by 43,000 head.

Farmers trading store cattle are also securing higher prices. Read the full analysis here.