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LMC: Great Britain Tops EU Deadweight Prices

04 December 2012

EU - British prices have been buoyant after increasing by 11 cents per kilo on October, writes the Livestock and Meat Council.

With an average R3 heifer price of 442.5c/kg for the week ending 18 November 2012 GB has continued to top the EU Deadweight Cattle Prices League Table.

This is an increase of 11.9c/kg on the previous month when the average R3 heifer price was 430.6c/kg as outlined in Table 1.

The table from the Livestock and Meat Council outlines the EU deadweight R3 heifer prices converted to euro for the purposes of comparison between the EU countries (EC Dressing Spec).

Over the same period the R3 heifer price in NI increased by the equivalent of 18.1c/kg to 412.1c/kg and this reduced the differential between NI and GB to 30.4c/kg (24p/kg) in the week ending 18 November 2012.

The differential had been 36.6c/kg (30p/kg) in the week ending 21 October 2012. This increase of 18.1c/kg was the largest recorded increase across the EU and has moved NI up two places into fourth position on the table.

Meanwhile in ROI the average R3 heifer price for the week ending 18 November 2012 increased by 9.7c/kg to 392.6c/kg.

This increase moved it up three places on the league table to sixth position. However despite this increase the differential between ROI and NI R3 heifer prices widened from 11.1c/kg in the week ending 21 October 2012 to 19.5c/kg in the week ending 18 November 2012.

Figure 1 shows the average R3 heifer price from January 2011 to November 2012 for GB, ROI and NI.

Generally the prices paid for R3 heifer carcases in NI have been higher than the prices paid in ROI but behind the prices paid in GB with the differential widening substantially from early summer 2012.

If we use the average R3 heifer carcase weight in NI for the week ending 18 November 2012, which was 320kg, then the difference in monetary value of an R3 heifer between NI and GB was almost £80/head.

The difference in value between NI and ROI in the same week for a 320kg R3 heifer carcase was almost £50 head.

If we compare this to the same week last year the average differential between NI and GB was almost £30 and the differential between ROI and NI was about £5.

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