Beef prices will fall ‘if countries ban EU meat over virus outbreak’

EU beef prices may fall from their record highs — along with reduced demand for lamb and pork — if non-EU countries react to the Schmallenberg virus outbreak by banning European meat, Rabobank International has warned.

EU beef prices jumped 20% to €3.92 a kilogramme in the first two months of the year, compared with a year earlier, pork prices gained 11% to €1.57 and lamb rose 10% to €5.93 as animal herds shrunk amid rising feed costs, said analyst Albert Vernooij of Rabobank.

Russia has said it will ban shipments of Europe’s cattle and hogs from Mar 20 because of the infection.