Irish farmers paid the sixth highest R3 heifer price in Europe
Irish farmers were paid the sixth highest R3 heifer price in Europe last week, according to figures from the European Commission.
During the week ending May 22, Irish R3 heifers made 406c/kg, almost €1/kg cheaper than the highest priced market.
Swedish beef farmers were paid 504c/kg for R3 heifers last week, while R3 heifers in Greece made 442.9c/kg.
However, when compared to the lowest priced market, Latvia, Irish farmers where paid 221c/kg more for R3 heifers than farmers in the eastern European state.
Gap widens between Irish and UK heifers
The price gap between Irish and UK R3 heifers widened last week, figures from the European Commission show.
Last week, an Irish R3 heifer traded at 406.9c/kg, while UK farmers received 416.3c/kg for the same heifer.
Over the past month, UK heifers were cheaper than Irish heifers on a number of occasions,mainly due to a weaker Sterling and lower UK beef prices.
But, there are some signs that the UK market is starting to stabilise, with European Commission figures showing a 11.4c/kg price increase last week.
Northern Irish heifer price
The price gap between Northern Irish and Irish heifers narrowed last week.
The narrowing of the beef price has occurred as Northern Irish farmers seen the price paid for R3 heifers jump by 9.41c/kg last week.
During the week ending May 22, Irish R3 heifers made 9.4c/kg more than Northern Irish heifers, on a 280kg heifer carcass this is a price difference of €26.
However, back in the last week of April a 280kg Irish heifer carcass was €42 dearer than a Northern Irish heifer carcass.
Some movement on the continent
There has been some movement in the main European beef markets in terms of R3 heifer price, with German and Italian R3 heifers falling by 2.8c/kg and 3.5c/kg respectively.
But there was little movement in the Spanish R3 heifer markets with prices unchanged, while prices in Poland declined by 0.1c/kg.