IFA Livestock Chairman Brendan Golden said factories are still not reflecting the strength of the market in returns to farmers, despite prices moving on a further 10c/kg this week.
He said despite the upward trajectory in quotes, the Prime Irish composite price continues to lag 28c/kg behind the Prime Export benchmark price and this is unacceptable.
“Demand for beef in our key export markets in the lead up to the Christmas trade has been very firm, creating strong demand for Irish beef. Factories are currently filling orders for this market and with supplies of suitably finished in spec cattle tight, prices must move on to reflect the full value of this market,” he said.
Base prices for steers are now making from €4.75/kg to €4.85/kg, while heifers are making from €4.80kg to €4.90kg, with higher deals for larger and specialised lots.
He said factories are having to pay up to 10c/kg above quotes to secure cattle this week.
The IFA Livestock Chairman said beef farmers should sell hard as factory demand is outstripping supplies.