The average price of R3 young bulls in the EU was back 10c/kg last week, falling to 352c/kg. This is 8c/kg ahead of the Irish R3 young bull price and 16c/kg behind the Irish R3 steer price of 368c/kg.

Northern Irish R3 steer prices fell dramatically by the equivalent of 18c/kg to 370c/kg equivalent on R3 steers, while the price in Britain was back to the equivalent of 374c/kg. The fall in the value of sterling partially explains this fall.

Export markets

Coronavirus is raging in many of Ireland’s main export markets in the EU and no doubt it is having an impact on trade as everyday life is shut down there too, with the exception of Sweden.

Sweden is one country that is holding its beef price reasonably well, although it is back from 404c/kg the previous week to 396c/kg on R3 young bulls.

France is back 5c/kg to 375c/kg, Spain is back 3c/kg to 371/kg, while the Netherlands had a big fall from 357c/kg to 345c/kg and Germany also fell 15c/kg to 354c/kg on R3 young bulls.

Heifers

The pattern was similar with heifers, though the price falls were smaller. The EU average was back 6c/kg to 363c/kg for R3 heifers and the Irish price was back 4c/kg to 371c/kg.

Italy, which reported a complete outlier on R3 young bulls, reported a very strong 416c/kg for R3 heifers, despite the turmoil in that country.

Sweden was also strong on 398c/kg, as was France on 390c/kg, which was actually 1c/kg more than the previous week. Prices in Britain and the North were the equivalent of 273c/kg, 2c/kg better than the Irish price.

Cows

Even before the burger chains had closed completely, business had fallen and this was reflected in a sharp fall in cow prices.

The EU average was back 13c/kg to 270c/kg for O3 cows. Irish prices were also back, but by much less, at 6c/kg on the O3 grade, though there will be a sharper fall this week.

Elsewhere, the two countries that had a better O3 cow price were Sweden on the equivalent of 356c/kg and France on 301c/kg.

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