The gap between Irish R3 steer prices and the equivalent in Britain widened further last week and now stands at 49c/kg, which is €200 per head on a 410kg steer.

Irish cow prices, which are usually among the best in the EU, have also fallen behind Britain, with an O3 cow making the equivalent of €3.03/kg there compared with €2.99/kg in Ireland. R3 heifers are worth €3.95/kg in Britain compared with €3.75/kg in Ireland.

EU steers and young bulls

Elsewhere in the EU it is a mixed picture on beef prices. Sweden is the strongest market by far in mainland Europe, with equivalent prices for R3 young bulls at €4.03/kg and the exact same for R3 heifers. Swedish cows are making €3.66/kg for the O3 grade.

Irish steers are now worth 49c/kg less than their equivalent in Britain.

Germany and Spain are the other countries in Europe that are ahead of Ireland on R3 young bulls prices. In Germany, R3 young bulls are making €3.84/kg while in Spain they are making €3.79/kg.

Italy and France lag behind Ireland on R3 young bulls with €3.68/kg the average for the R3 grade in France last week, while in Italy they were just worth €3.52/kg. The Netherlands, which is Ireland’s third most important export market for beef, returned just €3.34/kg for R3 young bulls.

Heifers

For heifers, Italy is the strongest market in the eurozone, with R3s making €4.07/kg, dramatically ahead of their young bull price. In Germany, R3 heifers made €3.76/kg, which is 8c/kg less than their R3 young bull price, while in Spain R3 heifers averaged €3.88/kg.

The French heifer trade was slightly ahead of their young bulls but still weak at €3.74/kg for the R3 grade.

Cow trade

Sweden is by far the dominant cow beef market, with O3 cows making the equivalent of €3.66/kg with France the next best on €3.27/kg. Ireland is comfortably the best of the rest in the eurozone on €3.99/kg, and Italy is on €2.76/kg.

The Netherlands, which has a huge dairy cow population, is on €2.64/kg and Spain is on €2.55/kg, while Germany is on just €2.42/kg for O3 cows.

Outside the EU

In Australia, where drought has become a major issue, the equivalent R3 steer is making €3.04/kg while the USA is on €3.26/kg. Brazil, the world’s biggest beef exporter this year so far is paying just the equivalent of €1.88/kg average for steers.