Beef market report: Brexit takes blame for €70-75/head beef price slump

Fallout from Britain’s referendum decision to leave the EU has continued to hit prices for beef animals at the factories.

Imposing a further cut of as much as 10 cents/kg in the prices offered for both steers and heifers this week, the processors are laying the blame on the fall in the value of sterling compared to the euro.

The base price generally being quoted for steers has slipped to 390 cents/kg.