Irish beef factory prices have fallen behind the EU average in recent weeks as well as being well behind those of our main export markets.For the week ending 16 October, the Irish R3 steer price was €3.68/kg (excluding VAT) compared with €3.87/kg for the EU average on R3 young bulls, an 18c/kg gap. In the same week in 2016, Irish prices were broadly in line with the EU average at €3.62/kg and €3.63/kg respectively.
Irish beef factory prices have fallen behind the EU average in recent weeks as well as being well behind those of our main export markets.
For the week ending 16 October, the Irish R3 steer price was €3.68/kg (excluding VAT) compared with €3.87/kg for the EU average on R3 young bulls, an 18c/kg gap. In the same week in 2016, Irish prices were broadly in line with the EU average at €3.62/kg and €3.63/kg respectively.
Irish R3 steers are 6c/kg better than in the same week last year but the EU average is 24c/kg higher. The price gap with the UK has remained similar to what it was last year – 53c/kg this year compared with 50c/kg in 2016. However, while Irish prices are just 6c/kg better than the same week last year, prices in the main eurozone markets Ireland exports to have surged.
While we are looking at R3 steers in relation to Ireland and Britain, most male cattle are kept as bulls in continental markets. Of these, only the Netherlands is below Ireland at €3.49/kg but this is 57c/kg better than it was a year ago.
The other big difference between October last year and this year is the size of kill in Irish factories. For the week ending 15 October 2016, the Irish kill was 35,683, whereas for the week ending 16 October 2017, it was 38,248.
Meat Industry Ireland pointed out that heifer and cow prices have performed strongly and the overall Irish price is 106% of the all-category EU average price.
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