Ireland drops to sixth on EU cattle prices league table
The Republic of Ireland has dropped to sixth place on the EU deadweight cattle prices league table, figures from the Livestock and Meat Commission (LMC) show.
The average R3 heifer price in the Republic for the week ending was 397.0c/kg back 7.9c/kg from the 404.9c/kg paid in the week ending August 30, 2015, figures show.
This latest drop in price means the Republic is just 4.1c/kg above the EU average cattle price of 393.9c/kg.
Northern Ireland has also dropped one place on the cattle league table; it now holds third place after it was overtaken by Sweden.
For the week ending September 27, the average R3 cattle price in the North was the equivalent of 448.5c/kg, back 3.3c/kg from 451.8c/kg in the week ending August 30.
This latest price in the North places the price in the Republic 51.5c/kg lower than the equivalent price in Northern Ireland, according to the LMC.
Britain continues to hold the top spot on the league table, with an equivalent price of 487.3c/kg in the week ending September 27.
This was an increase of 7.3c/kg compared to week ending August 30 when it was the equivalent of 480.0c/kg.
The rise in British R3 heifer price resulted in the British/EU price differential widening from 83.2c/kg in the week ending August 30 to 94.4c/kg in the week ending September 27.
Factory heifer price falls 45c/kg since August – Quotes drop below €4/kg
Beef farmers could potentially lose €135 on heifers slaughtered this month compared to the same animals slaughtering in August.
This week the base heifer price factories are offering has dropped below the €4/kg mark. Processors are currently offering 395c/kg for these lots.
There has been a substantial decrease in the heifer beef price with these lots back 45c/kg since early August falling below the €4/kg mark.
This essentially means that a 300kg heifer carcass in August was worth in the region of €135 more than a heifer that will come forward to factories this week.
The base steer price has slipped slightly on previous weeks and it now sits at 385c/kg, this also represents a fall of 45c/kg since early August or €135/head on a 300kg carcass.
Despite last week’s drop in cow beef price, the majority of plants have kept prices relatively unchanged this week.