The factory protests of recent weeks have created a backlog of cattle (and sheep) for slaughter and there is concern over what impact this will have on prices whenever factories return to normal.

There may have been no major beef shortages in Britain, despite Irish supplies being reduced, but with the Irish kill last week less than one third of what we would expect this time of year, there has to be a deficit in stocks.

Sterling effect

Additionally, the progressive strengthening of sterling recently will make imports coming into the UK from the euro zone more affordable, while, of course, the opposite applies to Northern Irish exports into the euro zone.

Based on last week’s price returns, the gap between Irish R3 steers and their British equivalent widened to 25c/kg, with an Irish price of 344c/kg compared with the British equivalent of 369c/kg.

Irish prices have been reported on a very small kill for this time of year

However, when looking at the average British price in sterling, it has actually fallen in recent weeks from 327p/kg to 323p/kg.

Of course, Irish prices have been reported on a very small kill for this time of year, but the one that is particularly noticeable is our R3 young bull price, which, at 330c/kg for R3s, is 22c/kg below the EU average of 352c/kg.

The best R3 young bull price in Ireland’s main exports markets is in Sweden at the equivalent of 400c/kg, while the Netherlands is weakest at 338c/kg.

Heifers and cows

The Irish R3 heifer price at 352c/kg is also below the EU average R3 heifer price, which was 361/kg.

Sweden is again the best-paying country in the EU at the equivalent of 399c/kg for R3 heifers, while the British price is the same as steers at 369c/kg.

The Irish price is the weakest compared with all the main EU markets that we export to, with Germany next-lowest on 353c/kg, just 1c/kg better than the Irish price.

Irish O3 cows averaged 278c/kg, 4c/kg below the EU average of 282c/kg.

Sweden had the top price for O3 cows at the equivalent of 360c/kg, followed by France at 319c/kg.

The Irish price was fourth-best, with Britain in third place on 280/kg.

Global prices

Internationally, Brazil and Argentinian prices remain very weak.

Cattle similar to R3 steers are making the equivalent of just 216c/kg in Brazil and 225c/kg in Argentina, while prices in Uruguay are on a different scale at the equivalent of 437c/kg.

Australia and the USA have a similar price at the equivalent of 331c/kg, while New Zealand’s price is the equivalent of 321c/kg.

Beef trade

Meanwhile, the EU Commission has revealed the latest trade figures for beef imports and exports this week.

This brings data up to the end of July this year and there were no major surprises.

Brazil continues to be the top supplier of beef imported to the EU, sending 76,480t of the 194,785t that was imported up the end of July.

The next-biggest supplier is Argentina on 42,657t, followed by Uruguay on 30,825t, meaning that the three major South American exporters between them have supplied 77% of all EU beef imports in the first seven months of this year.

Total EU beef exports up the end of July were 428,000t, with product going to a wide range of global markets.

The biggest single buyer, Hong Kong, took just 38,336t, which is 9% of the total, with Algeria next on 32,649t or 7.6% of all exports of EU beef.