He said the cattle trade remains very strong with R grade prices of ¤2.97/kg (106p/lb) at the factories.

Despite lower factory quoted prices, agents find themselves having to offer at least ¤2.97 (106p/lb) to get stock this week. Otherwise factories were losing cattle to higher priced competitors.

Mr Bryan said cattle prices in the UK, our main export market, are very strong with R grade steers making the equivalent of ¤3.32/kg (119p/lb).

“In all of our main export marketas across Europe cattle prices are well over the ¤3/kg price mark. In France R3 grade young bulls are making ¤3.14/kg, which is the equivalent of ¤3.29/kg including 4.8 per cent VAT. In Italy young bulls are making the equivalent of ¤3.53/kg, and in Spain ¤3.45/kg,” he said.

The IFA livestock chairman said the live export trade for young quality stock is also very strong with top prices of up to ¤3/kg live weight for Italian type bulls.

“To date this year live exports are up 50 per cent at 182,000 head, including over 40,000 head of quality wean-lings and stores to the high-priced Italian market,” added Mr Bryan.

Source: the-kingdom.ie