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The gap had closed to 14c/kg in the middle of June but had opened out again to 31c/kg by the end of the first week in July. It was caused by a fall of over 10c/kg in Irish prices while UK prices increased by the equivalent of almost 8c/kg over these few weeks. During this period the Euro was worth between 87.5p and 88.5p.
Irish average R3 steer prices were just over €3.96/kg at the end of the first week of July compared with a height of over €4.07/kg a month earlier on 10 June. Prices in Britain were the equivalent of €4.21/kg on 10 June and this had risen to €4.27/kg by 8 July.
International prices
Irish R3 steer prices are still ahead of our main euro trading partners. In France, R3 young bulls are making €3.74/kg, similar to a month earlier. German prices are showing a small increase at €3.68/kg, which is 4c/kg up on a month ago.
Internationally, Australia remains stable around the equivalent of €3.50/kg. Brazil’s cattle price is now reflecting the turmoil in the industry there over the past four months, with prices down to the equivalent of €2.05/kg.
Cow price ranking under threat
On cows, Ireland was the top market in the EU a month ago with O3 cows making over €3.37/kg. However cow prices have fallen sharply in the factories over recent weeks and on 8 July were down to just under €3.20/kg, a fall of 17c/kg.
Cow prices in Britain have actually increased over this period and are now averaging the equivalent of €3.19/kg. This means British cow prices have moved from being 25c/kg behind Irish prices a month ago to being just 1c/kg behind.
Irish prices have fallen behind France over recent weeks. On 10 June, French O3 cows made €3.27/kg, 10 c/kg behind Irish prices. Now they are at €3.25/kg, putting them 5c/kg ahead of Irish O3 cow prices.
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