The gap in beef prices between NI and Britain is at record levels, with steers generating close to £200 more at factories across the Irish Sea than the equivalent animal processed in NI.

Official market reports for the week ending 30 November 2024 show NI factories paid an average of 509.3p/kg for U3 steers.

However, market data for the same week in Britain shows U3 steers at 552.2p/kg, with the highest regional average prices recorded in Scotland at 556.8p/kg.

That means a 400kg steer carcase in Britain is generating £172 more than the equivalent animal in NI. That differential widens to £199 with plants in Scotland paying to 420kg deadweight without penalty.

Growing gap

While a price gap between NI and Britain is not uncommon during autumn and early winter, the differential in steer prices has more than doubled in recent weeks, despite beef ultimately being sold into the same market under Red Tractor branding.

At the start of September, U3 steers at NI plants averaged 491.2p/kg, which was 20.3p/kg behind the 511.1p/kg average at plants across the Irish Sea.

This time last year, U3 steer prices in Britain were 27.5p/kg ahead of NI, while in the same week in 2022, the gap was just 12.1p/kg.

Heifers

Moving to heifers, prices at local plants fall short of those in Britain by around 40p/kg with a 46.1p/kg differential to Scotland, where U3 heifers averaged 559.2p/kg for the week ending 30 November.

As is the case with steers, the price differential has doubled since early autumn.

A similar gap of 40p/kg exists on young bulls at U3 conformation, while on cull cows, O3 grading animals are making an additional 20p/kg in Britain.

Ultimately, the prices paid in Britain show there is significant scope for local plants to pay more for finished cattle.

Base quotes

At NI plants, base quotes have increased by 2p to 500p/kg this week, but price reports indicate 516p to 520p/kg is now available for prime U3 grading cattle.

Prices being quoted for cull cows range from 400p to 420p/kg for good quality suckler types.

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