Irish beef prices trail EU market

Marts: Irish beef producers continue to trail the European market on beef prices although they have benefited from the largest increase in prices within the EU for the first quarter of 2004, according to the latest EU data on prices within the community.

Most countries experienced a decline in beef prices relative to 2003 for the January-March period with only Ireland and Britain benefiting from higher prices than those paid for the corresponding quarter in 2003. Nevertheless Irish prices continued to trail the EU market with a difference of up to 16p/lb for R3 bullocks.

Bord Bia points out that the general picture of the beef market across the EU for the first quarter was one of lower slaughterings, but despite the lower supply of cattle for processing only Irish and British producers benefited from higher prices.