Factories have moved to apply some pressure to the trade this week, with most plants reducing quotes by 5c/kg for bullocks and heifers for this week’s purchasing.

Some plants have stood on at last week’s quotes for any cattle bought at the end of last week for this week’s kill.

This means that there is some variance in quotes this week, with some bullocks being bought at €5.20/kg, but, in the main, bullock quotes are working off €5.15/kg this week.

Some heifers are also being bought at €5.25/kg this week, but most are on quotes of €5.20/kg.

Factories are reporting more numbers coming on stream, but there are some thoughts that the current price pull could be a ploy to flush out more numbers out of the system.

Cows

Cows have also seen a slight dip in price this week, with U grading cows still up at €5.10/kg and R grading cows coming in at €4.60/kg to €4.70/kg.

O+ suckler cows are generally working off €4.40/kg to €4.60/kg, while O grading dairy cows are being bought at €4.50/kg in the main.

P+3 cows are working off €4.20/kg to €4.40/kg depending on weight, age and flesh.

Bulls

Under-24-month bulls are working off a €5.40/kg to €5.45/kg base price for U grading bulls.

R grading bulls are coming in at €5.20/kg to €5.35/kg, while O grading bulls are being bought at €5.00/kg to €5.10/kg.

P grading bulls are working off €5.00/kg, depending on weight and flesh cover.

Under-16-month bulls are generally working off a €5.20/kg base price.

Irish Farmers Association livestock chair Declan Hanrahan said: “Attempts by factories to undermine beef prices this week are unnecessary and must stop.

"The demand for beef is expected to pick up over the summer months in our key markets against a backdrop of tighter supplies of cattle.

"UK production is predicted to tighten considerably as we move through the year, with prices remaining strong.

"UK prices are more than 60c/kg above ours. This gap in prices with our most important market is not acceptable and must be closed.

"Volumes of beef sold into this market increased significantly in 2023 and grew a further 25% earlier this year, which must be reflected in beef prices to farmers,” he said.

He added: “EU beef production fell by 3.9% in 2023, with a further reduction of 2.3% predicted for the year. Consumption levels of beef are reasonably stable.”