Beef market report: Market steady despite UK beef price five-year low

The beef trade at the factories has continued on a steady note, with the recovery in supply being maintained, and prices hardening slightly this week.

In sharp contrast, the beef price in the UK has dropped to the lowest level in five years after sharp declines in recent weeks, which continued over the past week with cuts of 2.6p and 2p/kg for steers and heifers.

The UK takes nearly half of Ireland’s beef, and the UK base steer price has fallen to within 10-12 cents/kg equivalent of the Irish price.