The Irish Farmers’ Association has said there is “no justification” for the price gap between Irish and UK beef.

It comes at UK and EU prices have surged and a deficit of 47c/kg has opened up between Irish beef prices and the Bord Bia Prime Export Benchmark price.

IFA livestock chair Declan Hanrahan said there is “no jusitification” for this level of divergence against in our key export markets.

“Supplies of beef cattle are not meeting factory demand and are predicted to tighten further over the coming weeks and months where throughput is expected to be back 30,000 head on the same period in 2023."

Prices

R3 male cattle prices in the UK are now over €1/kg above the Irish price with the EU Young Bull price also 20c/kg higher.

These prices combine to create a differential of 47c/kg which is heading for the biggest gap with Export Benchmark Price since Bord Bia started compiling the figures.

Hanrahan said it is a similar supply situation in most beef producing countries, creating huge opportunity and potential for meaningful and sustained beef price increases.

“Farmers with cattle to sell should not be misled by factories or their agents. Prices are surging in our key export markets; supplies are tight and demand is strong.

“There is capacity in the marketplace for significant beef price increases and factories must close the unacceptable price gap of 47c/kg with the Bord Bia Prime Export Benchmark Price by returning higher beef prices to farmers.”