The recent dramatic strengthening of the euro against sterling is having a significant impact on the beef trade from Ireland to the UK.

"The euro has now risen to 74.5p sterling which is a 4pc change on pre-Christmas levels and represents an 11pc deterioration in the exchange rate compared to January 2007," said Cormac Healy of Meat Industry Ireland (MII).

"Cattle prices here in Ireland have moved on by approximately 10pc since before Christmas. This level of improvement has not occurred in returns from our main beef export markets," Mr Healy said.

Source: Irish Independent