EU BEEF CRISIS
At the current steer base price of €3.45/kg, Irish beef prices are down 45c/kg on last year or €160/head.
EU beef prices are down 6% on last year, with steer prices down 9.7%. For w/e July 21st. the average EU R3 male price was €3.51/kg excl. vat. R3 Irish steers were €3.53/kg and UK steers were €3.70/kg.
The UK leaving the EU presents the most serious threat to Irish farming and our agri-food sector in the history of the State.
The UK is Ireland’s largest market for food and drink, with 40% of our food exports destined for the UK. Our proximity and shared land border mean the UK is a hugely important market for all Irish goods and services, but farming has a much higher dependence on the UK market than any other sector.
To allow the proposed volume of beef on to the EU market would have a severe impact on Irish and European farmers, who are already struggling from the impact of Brexit and falling consumption levels.
In Ireland, due to our higher level of exports, it is expected that this impact would be proportionately higher, potentially costing an estimated €500m to €750m.