Beef prices are recovering after collapsing in the face of COVID-19 lockdowns.

A base price of €3.55/kg and €3.60kg is now available for in-spec steers and heifers. Some agents are prepared to pay an additional 5c/kg to secure cattle.

The gradual reopening of food service outlets such as McDonald’s across the EU is driving demand for plainer cattle and cows.

Farmers with cows are securing prices from €2.90/kg to €3/kg with good R-grading cows selling for up to €3.20/kg

This has seen farmers secure an upward-only base price for steers of €3.50/kg. In this situation, farmers receive both in-spec and grade bonuses but do not incur cuts on poorer-grading animals.

Farmers with cows are securing prices from €2.90/kg to €3/kg with good R-grading cows selling for up to €3.20/kg.

Retail promotions and discounts in recent weeks have boosted demand with mince sales growing by 27%.

IFA livestock chair Brendan Golden said that Kantar figures for the UK for retail sales during the 12 weeks to 19 April show beef volumes up 16.2% and spend up 15.3%

Prices for steers and heifers have almost recovered from the COVID-19-induced crash eight weeks ago.

Most agents forecast the upward momentum to continue with the recovery in demand coinciding with tight cattle supplies.