AGENTS have described cattle prices at this week's Dublin store sale as "off the planet", with the best young steers making to $3.56 a kilogram.
"Everybody just can't believe how much money cattle are making, and continue to make," said CIAA chair Garry Willson.
"They're not getting any cheaper, they're getting dearer and dearer every week and you just wonder where it's going to finish.
"I think a lot of people thought it might have slowed down or might be easing a tad, but it's just getting dearer and dearer everyday.
"It's just hard to believe what's going on really."
Interestingly, despite the reduced yardings at Dublin, Mr Willson said there had been a significant interstate presence.
"We're getting interstate buyers operating here which we haven't had for a long time," he said.
"That's what we've really noticed, there's not a lot of numbers at Dublin and we're getting interstate buyers operating here at massive prices."
And with cross-border buyers still needing to get their purchases home, the whole exercise would be a "pretty expensive little trip".
He said cattle might be at that "next stage", similar to lambs which took a long time to hit certain price points but which had now hit a $150 barrier which was proving the norm for the best lambs.
"Cattle might be the next thing, they've got to the next barrier and they might stay there," Mr Willson said.
"It's very good for the breeder, they're the ones who are going to get the rewards mainly - it's been a long time coming."
Meanwhile, the EYCI is continuing its record run.
On Tuesday night, it finished at 530.25 cents/kg, smashing the record set last week by more than 17c.
Meat & Livestock Australia market information manager Ben Thomas said 2015 has been a unique year in that at a time when there has been huge turnoff, cattle slaughter is more or less on par with last year - a record year.
Mr Thomas said the number of cattle available for sale for the first six months of the year were at record highs.
"So what has made this year so remarkable is that prices have also been continuing to find new highs," he said.
"What's really been kicking it has been two rain events: there was a good bit of widespread rain over the Christmas break and that saw the EYCI jump from 376c at the close of markets in 2014 to start the new year and quite quickly find its way into the 400c area.
"There was some widespread rain in April which kicked the market along a little bit more, and in the past fortnight with more showers, even though the number of cattle coming through the saleyard and the number of cattle getting slaughtered is still at quite high rates, the market's just kept continuing to find new ground."
MLA had "quite a bit of confidence" that the market would remain strong, Mr Thomas said.
"The main reason being that we are staring down the barrel of what's going to be very tight supplies."
