There are some signs of stability returning to the beef trade with "historically low cattle production expected to continue in the second half of 2026", according to Bord Bia.

This is despite the subdued demand for beef in Britain and in the main EU export markets, as well as the fact that Irish cattle prices have fallen by almost €0.70/kg since the beginning of the year and more than €1.00/kg since summer 2025.

A summer 2026 market outlook for Irish beef and livestock from the Bord Bia meat and livestock division at Teagasc's BEEF2026 open day at Grange yesterday (Wednesday, July 1) highlighted that the value of Irish exports of primary beef reached €843 million for the first quarter of this year.

This represented an increase of 9%, despite volumes falling by 7% to 114,000t in line with lower production.

The volume of beef exports to the UK market in the first quarter of this year declined by 10% to 51,000t, "reflecting competitive pressure in the foodservice sector especially", according to Bord Bia.

Meanwhile, exports to continental European markets were relatively more stable, dropping by 7% to 57,000t.

In Q1 of 2026, the EU accounted for 50% of Irish beef export volumes during the period (up from 47% in 2025), and the UK just 45% (down from 47% in 2025).

There was a notable decline of 24% in Irish beef exports to international markets in Q1 this year with just 6,000t (5% of total) going to these markets.

Figures presented by Bord Bia for the first quarter of 2026 show that Ireland’s share of the UK’s beef import volume (fresh and frozen) fell from 77% to 64%.

According to Bord Bia, this was a result of both the increasingly price competitive nature of the foodservice market, but also economic difficulties contributing to more price-conscious shopper behaviour, including switching to cheaper protein sources.