Irish beef prices are stagnating despite a big jump in demand from UK retailers for all types of beef.

The value of beef sold on UK shop shelves jumped by 13.8% in the 12-week period up to 6 September, compared to the same period in 2019.

Northern Ireland Livestock and Meat Commission (LMC) data shows retail sales of primary beef in the UK were valued at £479.2m (€531.11m). The excellent retail trade across the water would seem to be one of the reasons beef is such a good trade in Northern Ireland. This has pulled record numbers of Republic of Ireland live cattle across the border so far in 2020.

However, despite the booming retail trade, prices paid to farmers for their cattle by factories in the Republic has stagnated.

The Irish beef price remains at €3.60/kg for steers this week, with €3.65/kg available for heifers with a push. For the week ending 3 October, there was a 48c/kg difference between the price paid for an R3 steer in in Britain compared to Ireland. That equates to €182 on a 380kg steer.

Such is the level of demand from UK supermarkets, the only direction for beef prices in the north and Britain is up over coming weeks.

Growing demand

With many areas in semi-shutdown, the demand from supermarkets and butchers is growing. With more people working from home and restricted leisure opportunities, more food is being prepared and consumed at home. Cuts of beef that had fallen out of favour are again finding interest, with consumers willing to dedicate more time to food preparation.

The LMC data showed a 5.2% increase in mince sales during the 12-week period. Retail sales of roasting joints saw the biggest rise, with a 30% increase in value and a 20% increase in volume sold. These figures included the August period of Boris Johnson’s “Eat out to help out” scheme.