Irish beef prices for R3 heifers in August were the fifth highest in the EU at an average €3.87p/kg. The average R3 heifer for EU member states was €3.78/kg.

While still above the EU average, prices paid in Ireland have dropped 11c/kg in August compared with the average heifer price paid in July, when Irish heifer prices were the fourth highest in the EU.

In Ireland’s largest beef market, Britain, heifer prices in August averaged €4.11/kg, which is an 11c/kg increase on July. Prices in Britain strengthened considerably in the latter half of August and early September, creating a price differential over Irish cattle of 40c/kg, or €132 on a 330kg carcase.

Sweden continues to pay the highest price for beef in the EU at €4.87/kg for August. Like in Ireland, prices were higher in July for Swedish heifers, by 16c/kg. Prices in Italy averaged €4.03/kg for heifers, although prices for young bulls are less buoyant at an average of €3.76/kg for August. Spot prices for young bulls have seen a marginal price increase this month, but not to a level that will stimulate greater demand for live exports of Irish weanlings.

Elsewhere, global prices for beef in the US are approximately €3.74/kg, while in Brazil, prices are around €2.95/kg. In Argentina, beef prices are €3.26/kg, while in Australia, prices are closer to €5/kg.