Factories have broken the €3.40/kg base price barrier to secure supplies this week.
Some beef plants are offering a base of €3.45/kg for steers and €3.50/kg for heifers.
As was expected, based on the AIMs data, the number of in-spec finished cattle has tightened and will continue to get tighter over the coming weeks, according to IFA national livestock chairman, Brendan Golden.
Cull cows up 15-20c/kg
The IFA official said cow prices are also rising with good R grade cows up 15-20c/kg over the last week to ten days, reflecting increased market demand for manufacturing beef based on higher retail sales and as some burger and manufacturing plants plan to re-open.
With major increases in retail sales, Golden called on supermarkets to pass back some of the higher revenues from consumers back down the chain to “hard-pressed” farmer finishers.
It has been reported that plants are paying between €3.20-€3.50/kg for O/R/U grade young bull this week, while €2.50-€3.00/kg is on the table for cull cows.