The upward move in factory prices in recent weeks has driven Irish prices from below the EU average to the best in the eurozone. Cow prices are the best of any signigficant cattle producing country and even ahead of the UK by 15c/kg although steers lag behind UK price by 29c/kg (EU reported prices w/e 14 May, net of VAT).
The upward move in factory prices in recent weeks has driven Irish prices from below the EU average to the best in the eurozone.
Cow prices are the best of any signigficant cattle producing country and even ahead of the UK by 15c/kg although steers lag behind UK price by 29c/kg (EU reported prices w/e 14 May, net of VAT).
Irish R3 steer prices were €4/kg (net of vat) for week ending 14 May which is 27c/kg ahead of France for R3 young bulls at €3.73/kg and 33c/kg ahead of Germany on €3.67/kg.
However the UK is significantly ahead of Ireland for R3 steers getting the equivalent of €4.29/kg while Sweden is on the equivalent of €4.61/kg.
International prices
Internationally, prices have been slipping in Australia in recent weeks with the equivalent to R3 steers making €3.40/kg while Brazil remains steady in the equivalent of €2.39/kg.
The USA remains strong with the comparable steers to the EU’s R3 making the equivalent of €4.32/kg.
Cow trade
The cow trade remains an area where Irish factories excel. Last week Irish O3 cows were making €3.33/kg which is not only the top in the Eurozone, it is 15c/kg better than Britain for cows where O3’s are making the equivalent of 3.18/kg.
France, who normally competes with Ireland for being the top cow market, was on €3.26/kg, while German O3 cows were making €3.01/kg.
Sweden is the top market for cows in Europe, paying the equivalent of €4.18/kg last week.
Despite the US cattle market running at the equivalent of 32c/kg ahead of Ireland, and the grinding beef market being strong also, Irish sales have been disappointing so far this year.
According to USDA data, no Irish manufacturing beef was delivered last week with just 10t of beef cuts and 14t of beef offal landing.
This brings Irish supplies to the USA to 695t, compared to 1,002t for the same period last year.
A strong UK trade combined with a good market in France for ribs is a better option for Irish beef cuts, while Asian markets, particularly Hong Kong and the Philippines are buying large quantities of lower value beef products.
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