Irish heifer prices fifth highest in the EU

In the latest report from the Livestock and Meat Commission (LMC), Irish heifer prices continue to rise compared to other EU prices, reaching the top-five highest in April.

In the Republic of Ireland the price for an R3 heifer was 399.2c/kg in the week ending April 9, which was an increase of 13.8c/kg from the 385.4c/kg paid in the week ending March 12. This brought Ireland up to fifth place in the overall EU standings, compared to eighth place in mid-March.

This rated the Irish price at 15.1c/kg above the EU average and 9.6c/kg lower than the equivalent price in Northern Ireland.

In the week ending April 9, the average R3 heifer price in the EU was 384.1c/kg, an improvement of 0.5c/kg (from 383.6c/kg in the week ending March 12).

The LMC also noted that the Euro had decreased to 85.5p – in the week ending April 9.

Also Read: Irish heifer prices continue to close the gap on those on offer across the UK

In the week ending April 9, Northern Ireland rose from fifth to fourth place in the EU league table.

The R3 heifer price was the equivalent of 408.8c/kg, a rise of 9.2c/kg up from 399.6c/kg in the week ending March 12.

The gap between the R3 heifer price in Northern Ireland and the EU average widened from 16.0c/kg in the week ending March 12 to 24.7c/kg in the week ending April 9.

LMC
Source: LMC

Britain ranked third overall in the league table in the week ending April 9, with an equivalent R3 heifer price of 413.7c/kg. This was a gain of 3.7c/kg from the 410.3c/kg price of the week ending March 12.

The differential between R3 heifer prices in Britain and the EU average broadened from 26.5c/kg in the week ending 12/03/2017 to 29.6c/kg in the week ending 09/04/2017.

The difference between Britain and Ireland in terms of price was 14.5c/kg for equivalent R3 heifers. By the same measure, the price gap between Northern Ireland and the UK was 4.9c/kg.

In practical terms, this equates to farmers from Northern Ireland and Britain earning €26.88 and €40.60 respectively, more than farmers in the Republic of Ireland for a 280kg heifer carcass.

British farmers earned €13.72 more than Northern Irish farmers, going by the same measure of a 280kg heifer.

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