A weak EU beef market and modest increases in Irish factory prices means that the Irish R3 steer price is now above the EU average price for R3 young bulls.
The Irish R3 young bull price is one of the weakest in the EU at 339c/kg for the last week in January. The EU average R3 young bull price is 361c/kg, compared to an Irish R3 steer price of 366c/kg.
NI prices among the best
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Both these are well below prices in the north of 401c/kg equivalent for R3 steers and 402c/kg equivalent in Britain. The other strong R3 young bull price in the EU is Sweden at 399c/kg. The US also has a strong steer price at the equivalent of 396c/kg.
A huge faller internationally over the past few weeks is Uruguay, where the steer price is back to 354c/kg equivalent having been above €4 for much of 2019. A big factor is the fact that 80% of its exports are to China, which is seriously disrupted at present because of Coronavirus.
Brazil is also seriously exposed to the Chinese market. It was already in turmoil having overbought in the last couple of months in 2019 and coronavirus has created the perfect storm. It is unlikely to recover in a meaningful way until the virus is brought under control but when that happens, China will continue its growth of meat imports including beef to replace the deficit in pigmeat.
Both Irish R3 heifers at 370c/kg and O3 cows at 285c/kg have also climbed above the EU average of 366c/kg and 278c/kg respectively. As with steers, the Irish heifer price is well below the Northern Ireland price of 404c/kg equivalent and the British price of 401c/kg equivalent. O3 cows in the north are also a really strong trade at 300c/kg equivalent with the British price at 297c/kg equivalent for O3 cows.
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A weak EU beef market and modest increases in Irish factory prices means that the Irish R3 steer price is now above the EU average price for R3 young bulls.
The Irish R3 young bull price is one of the weakest in the EU at 339c/kg for the last week in January. The EU average R3 young bull price is 361c/kg, compared to an Irish R3 steer price of 366c/kg.
NI prices among the best
Both these are well below prices in the north of 401c/kg equivalent for R3 steers and 402c/kg equivalent in Britain. The other strong R3 young bull price in the EU is Sweden at 399c/kg. The US also has a strong steer price at the equivalent of 396c/kg.
A huge faller internationally over the past few weeks is Uruguay, where the steer price is back to 354c/kg equivalent having been above €4 for much of 2019. A big factor is the fact that 80% of its exports are to China, which is seriously disrupted at present because of Coronavirus.
Brazil is also seriously exposed to the Chinese market. It was already in turmoil having overbought in the last couple of months in 2019 and coronavirus has created the perfect storm. It is unlikely to recover in a meaningful way until the virus is brought under control but when that happens, China will continue its growth of meat imports including beef to replace the deficit in pigmeat.
Both Irish R3 heifers at 370c/kg and O3 cows at 285c/kg have also climbed above the EU average of 366c/kg and 278c/kg respectively. As with steers, the Irish heifer price is well below the Northern Ireland price of 404c/kg equivalent and the British price of 401c/kg equivalent. O3 cows in the north are also a really strong trade at 300c/kg equivalent with the British price at 297c/kg equivalent for O3 cows.
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