Beef prices in the UK are continuing to rise, but this is not reflected for Irish producers.

According to the Agriculture and Horticulture Development Board (AHDB) in, British all-prime average increased another penny to 335.4p/kg in the last week of July.

However, analysts from the agri-food marketing agency say that the supply/demand balance is still tipped in producers’ favour.

"The increased number of animals retained in Ireland combined with increased dairy calf births this year will add to the growing longer-term supplies of slaughter cattle.

"These developments are crucial to the trade in the UK, as increased Irish beef production has the potential to have an impact on the market in the UK, since it accounts for around half of Irish beef exports. However, with the supply forecast for the rest of the year tighter and a weaker value of sterling having an impact on the attractiveness of Irish beef to UK processors, the threat to the UK market has abated somewhat from its position earlier in the year."

At 29,400 head, AHDB estimates suggest that the number of cattle coming forward was down 200 head on the week earlier and notably back on the year for the fifth week in a row.

The all-prime average has now strengthened by 25p/kg since the low point in the year at the end of April and prices have generally moved closer to the previous five-year average. In the latest week, the differential was just 6p/kg, while in April it was around 30p/kg, according to AHDB. Average R4L steer and heifer values both moved up a penny on the week to 349.4p/kg and 347.2p/kg respectively, in both cases to their highest price point in 2016 so far. R3 young bulls strengthened 2p on the week to average 335.2p/kg.

Native-bred cattle are in particular demand. However, AHDB reports no waiting lists for the even more commercial types.

It is also reported that due to the price difference between British and Irish cattle narrowing in recent months, Irish produce is less attractive to UK processors supplying major retailers.

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Status quo with trade unchanged