UK and Irish farmers paid a similar R3 heifer price – European Commission
UK and Irish farmers received a similar price for R3 heifers last week, recent figures from the European Commission show.
Last week, an Irish R3 heifer traded at 404.7c/kg, while UK farmers received 404.3c/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 were some signs in the market last week that the British beef trade was beginning to to stabilise, with only slight price decreases seen.
However, a number of procurement managers told Agriland that the weaker Sterling and lower beef prices in the UK is having an impact on the trade, making Irish beef dearer for UK buyers.
Northern Irish heifer price
The price gap between Northern Irish and Irish heifers narrowed last week, figures from the European Commission show.
The narrowing of the beef price has occurred as Northern Irish farmers seen the price paid for R3 heifers jump by 5.7c/kg last week.
During the week ending May 8, Irish R3 heifers made nearly 12c/kg more than Northern Irish heifers, on a 280kg heifer carcass this is a price difference of €32.
However, two weeks ago a 280kg Irish heifer carcass was €42 dearer than a Northern Irish heifer carcass.
Continental heifer price
According to the European Commission, beef prices have strengthened on the main European markets, with the exception France, where the R3 heifer price has remained unchanged.
During the week ending May 8, the R3 heifer price in Italy, Poland and Spain all increased.
Italian heifer finishers witnessed price increases of 10.4c/kg, the Spanish R3 heifer price increased by 8.8c/kg, while the Polish price improved slightly up 1.9c/kg to just over 290.4c/kg.