EU Cattle Prices League Table

NORTHERN IRELAND, UK - 2011 has been a remarkable year for the European beef trade with substantial price increases over the course of the year.
calendar icon 22 December 2011
clock icon 2 minute read

In NI, base quotes for U-three prime cattle reached a top of 326p/kg in November and with deals and bonuses available, U3 heifer prices peaked at 336p/kg.

While the NI trade has been buoyant, GB prices have been even higher and in the week ending 13 November, GB topped the league table of EU R3 heifer prices.

Greece and Italy typically have had the highest prices in the EU in recent years, so this represented a significant change for the industry.

In NI in recent weeks, reported R3 heifer prices averaged 328p/kg (w/e 11/12/11). While this was similar to prices in November (w/e 13/11/11), prices had increased and then fallen again during the intervening period, reaching a peak of 332p/kg in the last week of November.

A similar trend was evident in GB over the same period. In the week ending 11 December, GB prices were broadly similar to mid-November levels at 339p/kg. However, during that intervening period prices peaked at 341p/kg.

Some in the industry expressed concerns that UK prices may have been prone to a price correction whenever GB prices rose sharply relative to European prices in November.

However, it may offer some reassurance that Greek, Spanish and Italian prices have increased since then and displaced GB prices at the top of the table. ROI prices have also increased since mid-November with a 10c/kg lift reported.

The ongoing slide in the euro will continue to cause concerns about the competitiveness of the UK beef trade since a weaker euro will render NI and GB prices higher relative to Eurozone levels.

Further Reading

- You can view the full report by clicking here.

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