Irish beef factory quotes have hit a 10-year low this week with a 10c/kg drop in steer and heifer quotes to €3.40/kg. As well as being 40c/kg to 45c/kg below this time last year, it is the worst price offered in the past decade at this time of year.

Young bull numbers are down 2,344 head on this time last year but prices are also back 10c/kg, leaving R grades trading from €3.30/kg to €3.35/kg this week with U grade bulls at €3.40/kg to €3.45/kg.

Farmers with cattle that are considered out of spec are facing further cuts in price

Cow prices are 20c/kg to 40c/kg lower than a year ago with the usual big difference between factories. P+3 grading cows are quoted from €2.25/kg to €2.45/kg, O grades €2.50/kg to €2.60/kg and R grades €2.70/kg to €2.75/kg.

Even with the kill of factory cattle dropping below 30,000 last week, farmers with cattle that are considered out of spec are facing further cuts in price and, in many cases, struggling to get them into the factory at all.

Northern Irish prices are also back 6p/kg to 8p/kg

Agents are reporting that numbers are starting to tighten but the benefit of this is reduced by Easter leaving two shorter working weeks.

Northern Irish prices are also back 6p/kg to 8p/kg making U-3 steer and heifer quotes in the region of £3.16/kg to £3.18/kg (€3.59/kg to €3.62/kg or €3.79/kg to €3.81/kg when VAT at 5.4% is included).

Reacting to the latest price falls, IFA livestock chair Brendan Golden said Minister Michael Creed can no longer ignore the disaster unfolding on beef and must to take immediate action in terms of both market supports and direct payment support.