Factory quotes for finished beef cattle have now increased by over €1/kg since the start of this year and with prices continuing to rise, many procurement staff are saying it is difficult to say where the trade is currently at.

One procurement agent told Agriland that 'such is the level of price increases that what would be seen as a good price one week would only be seen as an average price the following week'.

Both beef farmers and factory procurement staff have told Agriland that such a significant beef price rise in such a short space of time has never been noted in living memory.

Some farmers have told Agriland that flat prices of up to €7.30/kg are available in cases for choice lots of Angus and better-type continental heifers.

There is a 20c/kg variation in factory opening quotes for heifers and bullocks (steers) this week but most processors opening at the lower rates are having to negotiate deals with farmers to secure any significant numbers of cattle.

Heifers are being quoted at €6.80/kg on the grid with steers being quoted at €6.70/kg on the grid.

The reality is many farmers are managing to secure significantly higher rates than this with one beef finisher telling Agriland: "Base price has been irrelevant this past few weeks. Factories are paying way above their base prices to secure choice lots of cattle."

In the week ending Sunday, February 23, the average price paid for R+3= grade heifers was €6.82/kg, with as high as €7.21/kg paid for heifers of that grade in that week. With overall prices having increased since then, the average price has likely moved well upwards since then.

Irish Hereford Prime and Certified Irish Angus have both moved to guarantee offseason bonuses for farmers this year - a further positive signal from beef markets for farmers.

All grades of fleshed, heavy cows are now being quoted at over €6.00/kg at most of the stronger cow buying outlets.

P grade cows are being quoted at €6.10 with €6.20/kg being quoted for O grade cows. €6.40/kg is being quoted for R grade cows with €6.50/kg being quoted for U grade cows this week.

Again, some farmers are managing to secure higher rates than these this week.

Click here to see cow prices paid by grade and factory in the week ending Sunday, February 23.

Under-24-month bulls are being quoted at up to €7.00/kg for U grades with €6.90/kg being quoted for R grades. O grade bulls are being quoted at €6.60-6.70/kg and P grade bulls are being quoted at €6.50/kg.

As with all other types of cattle, some farmers are managing to secure higher rates than these for bulls.

Under-16-month bulls are being quoted at €6.60-€6.70/kg on the grid in general this week.

As prices continue to rise and the trade looks promising for the short term at least, farmers are pushing to secure as much from the market as possible.