Steers edge closer to €8/kg as beef prices rise 15-20c/kg
The factory prices for stock are now at double what they were a year ago.
Such is the ongoing unprecedented demand for Irish beef on the export markets that yesterday's price is already "out of date", according to suppliers.
Factory prices have been increased by a further 15-20c/kg this week as the competition between the plants further intensified to secure sufficient stock to satisfy the current demand.
Steer base prices have moved closer to €8/kg this week, ranging from 780c/kg, while the base for heifers has hit 800c/kg or slightly over for the larger lots, and cow prices are up to 730c/kg for R-grade, with some suppliers of larger numbers of well-fleshed cows reporting 740c/kg as achievable. Young bulls are making 750-760c/kg for Rs.
Meanwhile, it may be worth noting that while returns to the factories for the more prime cuts of beef continued to show increases to the end of February, the rate of market return increase for mince, by far the biggest volume category, eased.
The factory prices for stock are now at double what they were a year ago, and week-on-week increases have become a consistent pattern of the trade year to date in 2025, showing no immediate sign of change.
Such is the pressure on the processors to source sufficient stock that the factory agents are intensely active in the marts, where some of the prices being paid for the stock are estimated at well in excess of the quoted prices at the factories.
The barometer on the return to the factories from the marketplace, compiled by the Food Regulator, shows that while the overall trend continues to be upwards, there are some variations emerging.
Price trends for the first months of 2025 show that returns to the factories from their markets have continued to increase across the three analysed categories: forequarter, hindquarter, and mince.
However, hindquarter cuts are now showing the strongest price growth, while there has been an easing of price increases for mince, which remains the most expensive of the three categories.
The latest figures available, covering up to March, show that forequarter beef prices increased by 5.9% in January and gained a further 10.6% in February, while hindquarter dropped 5% in January before rebounding with an increase of 12.4% in February.
Over the same period, beef mince (5% fat) gained 3.1% in January before easing back to a gain of 1.7% in February while remaining the most expensive of the three categories at €9.33/kg at the beginning of March.
The supply dropped to 36,425 head last week, around 4,500 head below the same week last year. The supply included 13,899 steers, 12,091 heifers, 8,016 cows, and 1,602 young bulls.
