The European beef market is hitting record prices with demand currently outstripping supply in many of Ireland’s main export markets. \ Jack Caffrey
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Irish beef prices are continuing to fall behind prices paid for the same cattle killed in the UK and across the EU.
According to the Bord Bia beef market tracking tool, the Irish composite price is currently 31c/kg behind the export benchmark price for the week ending 9 April. This is the equivalent of €120/head.
The differential has been running at 20c/kg for much of March 2022 but has widened in recent weeks as demand for beef outstrips supply across much of Europe. This price differential stood at just 6c/kg for the same week in 2021.
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Comparing prices for R3 prime male cattle across Europe, Ireland and the UK, a massive gap has opened up between the EU and Irish price.
For the week ending 2 April, the average EU R3 young bull price stood at €5.49/kg, the Irish R3 bullock price was at €5.02/kg, while the UK price came in at €5.36/kg.
The Irish price hasn’t kept track of gains seen in the EU market over the last 12 months. The average EU R3 young bull price is up €1.40/kg compared with the same week last year. The average Irish R3 bullock price is up 90c/kg on the same week last year.
The European beef market is hitting record prices with demand currently outstripping supply in many of Ireland’s main export markets.
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Irish beef prices are continuing to fall behind prices paid for the same cattle killed in the UK and across the EU.
According to the Bord Bia beef market tracking tool, the Irish composite price is currently 31c/kg behind the export benchmark price for the week ending 9 April. This is the equivalent of €120/head.
The differential has been running at 20c/kg for much of March 2022 but has widened in recent weeks as demand for beef outstrips supply across much of Europe. This price differential stood at just 6c/kg for the same week in 2021.
Comparing prices for R3 prime male cattle across Europe, Ireland and the UK, a massive gap has opened up between the EU and Irish price.
For the week ending 2 April, the average EU R3 young bull price stood at €5.49/kg, the Irish R3 bullock price was at €5.02/kg, while the UK price came in at €5.36/kg.
The Irish price hasn’t kept track of gains seen in the EU market over the last 12 months. The average EU R3 young bull price is up €1.40/kg compared with the same week last year. The average Irish R3 bullock price is up 90c/kg on the same week last year.
The European beef market is hitting record prices with demand currently outstripping supply in many of Ireland’s main export markets.
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