Weakened Sterling puts UK heifer prices in line with prices in the Republic

Heifer prices in the Republic of Ireland and in Britain were almost on par for the week ending July 10, the Livestock and Meat Commission (LMC) has said, with a weakened in Sterling having an impact on deadweight cattle prices across the Irish Sea.

The euro strengthened against Sterling with €1= 84.9p for the week ending July 10, 2016 compared to €1= 78.3p in the week ending June 12, 2016.

The price differential between the Republic of Ireland and Britain stood at 1.5c/kg for the week ending July 10.

In Ireland, the average heifer price in the Republic of Ireland was 398.0c/kg, a decline of 15.8c/kg from the 413.8c/kg paid in the week ending June 12, 2016.

The average R3 heifer price in Britain stood at the equivalent of 399.5c/kg for the week ending July 10, a decrease of 22.9c/kg from the 422.4c/kg paid in the previous month.

Britain has also dropped to fourth place on the league table, a drop of two places on last month, while Ireland is in fifth place.

Meanwhile, the North/south heifer price differential stands at 11.4c/kg for R3 grade heifers, the latest deadweight cattle prices league table from the LMC shows.

For the week ending July 10, 2016 the average R3 heifer price in the Republic of Ireland was 398.0c/kg, this compares to an average R3 heifer price in Northern Ireland of the equivalent of 386.6c/kg for the same week ending.

This is a decrease of 22.1c/kg from the 408.7c/kg paid on June 12, 2016 and 11.4c/kg lower than prices south of the border.

The heifer price in the Republic of Ireland was 23.2c/kg above the EU average price for the week ending July 10, LMC figures show.

EU heifer price

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