GB cattle prices have topped the EU league table again this month, with a 3.1c/kg rise in price, to average 434.2c/kg (£3.43/kg) for an R3 heifer.
Overall, average prices increased by 5.4c, to 389.2c/kg (£3.07), with the weaker euro against the pound making GB beef less competitive on EU markets. Northern Ireland’s prices fell by 10c/kg, to 407.3c/kg, dropping it from third to fifth in the league table over the past month.
Prices in the Republic of Ireland showed the greatest drop of 17 countries, down by 19.1c/kg to 400.1c/kg, pulling it from second to seventh in the table. “This decline in the ROI price may be acting as a drag on prices in NI as the declining value of the euro has made ROI beef more competitive on the GB market, the main market for both NI and ROI beef,” said a report by the Livestock and Meat Commission in Northern Ireland.
The euro fell from 80p in the week to 8 July to 78.6p in the week ending 5 August, said the report. “However, it does not appear to have undermined prices in GB as it remained in first position on the league table.”