EU beef price surpasses UK – Irish price lags behind

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The European (EU) average beef price has now surpassed that of the UK’s, while Irish price remains well behind, according to data from Bord Bia.

The Irish food board’s cattle price dashboard’s most recent data from April 2, shows that Irish beef price is running 40c/kg behind the average EU beef price.

The data uses the average price paid for R3-grade prime male cattle, which is the steer price in Ireland and the UK, and the young bull price in mainland Europe. The price quoted is in €/kg deadweight excluding VAT.

Commenting on the trends, Bord Bia’s Great Britain meat market specialist, Emmet Doyle said: “Tight beef supplies across northern Europe, especially Germany, Poland and the Netherlands, have seen the EU R3 young-bull price increasing week on week.

“The EU market is highly competitive as European processors and consolidators are looking to meet their customer contracts, especially for forequarter beef which is used for mince and burgers”

The last time EU beef price surpassed the UK beef price was from September 2010 until April 2011.

 

by Breifne O’Brien / Agriland

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