Farmers may need at least €4/kg to run their business, but getting it is rare in the main EU markets where Irish beef is sold.

Looking at R3 grade prices, Italy is the only one of our main export markets where this target is achieved, with €4.13/kg paid for young bulls and €4.14/kg for heifers in the week ending 4 August.

Elsewhere, Sweden was the only country that came close to €4/kg on €3.99/kg for young bulls and €3.98/kg for heifers.

In Britain, where more than half our beef is exported to, R3 steers and R3 heifers were both making the equivalent of €3.64/kg.

This is 19c/kg better than the Irish R3 steer price and 7c/kg better than the Irish R3 heifer price for that week.

France, Germany and the Netherlands are Ireland’s top beef export markets after the UK and in these countries, farmgate prices remain depressed.

France is the best of them, with €3.73/kg paid for R3 young bulls and €3.91/kg paid for R3 heifers in week ending 4 August.

In Germany, R3 young bulls made just €3.41/kg and their R3 heifer price was €3.46/kg.

It is even worse in the Netherlands, where cattle grading R3 are rare, with R3 young bulls getting just €3.25/kg with no price for R3 heifers.

The EU average price for R3 young bulls was €3.47 and the EU average for R3 heifers was €3.66/kg.

Cow trade

The cow trade is performing better accordingly than prime beef.

In France, O3 cows were making €3.21/kg and Sweden reported €3.59kg for O3 cows. After that, it is a big drop to €2.87/kg in Germany, €2.81/kg in Ireland, €2.80/kg equivalent in Britian, €2.77/kg in Italy and €2.65/kg in the Netherlands. The EU average for O3 cows was €2.83/kg.

All prices are supplied by EU Commission and are net of VAT.