While beef prices across the EU have been poor for several months, Irish factory prices last week were at towards the bottom of what farmers were paid (excluding VAT) in the markets to which most of Irish beef exports are sold.

This applies across all categories, with R3 young bulls being particularly bad at just 320c/kg, which is 36c/kg below the EU average of 356/kg for R3 young bulls.

In fact, this price is 12c/kg better than the 344c/kg reported average for Irish R3 steers last week.

Looking at the other regions with meaningful levels of steer beef production, Britain averaged the equivalent of 382c/kg for R3 steers, dropping to 368/kg for R3 young bulls.

In the North, the R3 steer price was the equivalent of 375c/kg, while the R3 young bull price was the equivalent of 361c/kg, both 40c/kg, or more ahead of the Irish price.

Continental markets

In continental markets that buy Irish beef, the next-worst farmgate price for R3 young bulls was the Netherlands and it was 21c/kg better than the Irish price at 341c/kg, while the Spanish price was 344c/kg.

The prices then jump to 370c/kg paid in Germany for R3 young bulls, while the French price was 377c/kg.

Italy and Sweden are higher again, with the Italian R3 young bull price 391c/kg and Sweden returned 394c/kg equivalent to farmers.

Heifers

Irish R3 heifer prices were also 12c/kg behind the EU average of 368c/kg compared with the Irish R3 average of 354c/kg.

The gap with the British R3 heifer price is 28c/kg, as they were getting the equivalent of 382c/kg and the North averaged the equivalent of 378c/kg.

Two countries had a lower price on R3 heifers; the Dutch R3 heifer price was just 342c/kg, while the German price of 353c/kg was just 1c/kg lower than the Irish price.

Elsewhere, there was a jump of 23c/kg to the Spanish R3 heifer price of 377c/kg, while the French price was higher again at 387c/kg for R3 heifers, with Italy one cent per kilo better again on 388c/kg and the Swedish price of 392c/kg equivalent was the top.

Cows

For a time in 2018, Ireland had the best cow price in the EU by a considerable distance, but here too Irish factories have dropped off the pace, with the O3 cow price in Ireland the second-lowest in the main export markets in which Irish beef is sold.

Only Spain at 258c/kg is lower than the 259c/kg paid in Ireland for O3 cows for the week ending 3 November.

The best O3 cow price was 356c/kg in Sweden, 12c/kg better than the Irish R3 steer price, while French farmers achieved 300c/kg on average for their O3 cows.

O3 cows are a good trade in the North at the equivalent of 287c/kg, while the British price is 266c/kg equivalent.

The Netherlands returned a credible average of 274c/kg on O3 cows, while German prices came in at 268c/kg.

The next-weakest price to Ireland was Italy on 263c/kg and the EU average was 273c/kg, 14c/kg better than the Irish price.

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