How do Irish heifer prices compare with EU returns?

The latest report from the Livestock and Meat Commission (LMC) indicates that Irish heifer prices increased by 12.9c/kg from the week ending July 5 to the week ending August 2. The prices listed below are exclusive of VAT.

This moves Ireland’s R3 heifers up to sixth place in the overall EU standings; compared to seventh place at the end of June. In addition, Britain is placed third, while Northern Ireland has moved to second position.

According to the LMC – during the week ending August 2 – R3 heifer prices in the Republic of Ireland were 31.8c/kg behind what R3 heifers made in Britain and 33.6c/kg higher than the price in Northern Ireland.

In Ireland, the prices achieved by R3 heifers stood at 378.6c/kg for the week ending August 2. This is an increase of 12.9c/kg from the 365.7c/kg paid to Irish farmers during the week ending July 5.

However, Irish R3 heifer prices stand at 11.5c/kg higher than the EU average, figures from the LMC show.

In Northern Ireland, the R3 heifer price was the equivalent of 412.2c/kg – a rise of 9c/kg on the first week of July returns.

The gap between the R3 heifer price in Northern Ireland and the EU average widened by 45.1c/kg during this period.

For the week ending August 2 – in Britain – R3 heifer prices equaled the equivalent of 410.4c/kg. This was an increase of 7.1c/kg from the 403.3c/kg paid out at the start of the month.

If we take a 300kg heifer carcass – for the week ending August 2 – heifers slaughtered in Sweden, Northern Ireland and Britain made €176, €100 and €95 respectively more than heifers in the Republic of Ireland.

France has dropped to fourth place in the standings. R3 heifers remained at 409c/kg for the intervening period between the week ending July 5 and August 2.

Figures from the LMC also show that Swedish farmers received the highest price for R3 heifers – at 437.3c/kg – while Italy dropped to tenth place with an R3 heifer price of 344.4c/kg.

Luxembourg is ranked in fifth place, where heifer prices increased by 4.1c/kg from the week ending July 5 to the week ending August 2.

Heifers in Spain achieved prices of 351.2c/kg during the week ending August 2.