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This was the closest it had been for several years and at that point Irish cattle prices were the highest of all in our main eurozone markets with just Swedish and British prices higher than Irish.
Start of June
At the beginning of June, Irish prices were €4.07/kg for R3 steers compared with the equivalent of €4.19/kg being paid in Britain.
Elsewhere in Europe at the beginning of June, R3 young bulls were making €3.72/kg in France, the largest market for Irish beef after the UK.
However, by the middle of August, French prices had increased to €3.81/kg for R3 young bulls, while Irish prices had fallen by 26c/kg to €3.81/kg for R3 steers.
Italy and Germany
Prices in Italy and Germany have also been on the rise while Irish prices were falling. In Italy, R3 young bulls were making €3.98/kg back in June but have increased by 14c/kg since to €4.12/kg. German prices for R3 young bulls have increased from €3.65/kg to €3.88/kg.
Outside the EU
Outside the EU, prices have fallen in the US and Australia. American prices were the equivalent of €4.25/kg in June but have since fallen by 81c/kg to €3.44/kg.
This is partially explained by the euro strengthening against the dollar by 10%. In Australia, prices fell by the equivalent of 32c/kg from €3.54/kg to €3.22/kg. In Brazil, prices have been stable, increasing by the equivalent of 2c/kg from €2.16/kg to €2.18/kg.
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