Ireland Beef insights

Ireland exported €2.7 billion worth of beef in 2023, up 2% from 2022. The beef industry is an integral part of Ireland's rural economy. Mercosur is a major market for EU exports and, to date, it is the only major trading partner of the EU in Latin America with which it has not signed a preferential trade agreement. According to official EU data, Mercosur is the world's fifth largest economy outside the EU. It has a population of over 260 million and an annual output value of over €2.2 trillion. EU companies export more than €45 billion in goods and more than €23 billion in services to Mercosur. More than 855,000 jobs in the EU are related to exports to Brazil, and more than 60,000 EU companies export to Brazil. EU companies are also major investors in Mercosur, and Mercosur companies are increasingly investing in the EU. Companies from Mercosur countries employ more than 30,000 people in the EU. More than 30,000 employees. Through the agreement, Mercosur will find it easier to export to the EU as long as they adhere to the EU's high standards. Regarding equal standards, the EU says: "All imported food must meet EU standards. EU rules apply to all products sold in the EU, whether domestically produced or imported." Brazilian beef can currently be purchased in the EU. But Brazil's production standards are a world away from those in Ireland, and this is unlikely to change in the short term. For example, growth hormones and growth-promoting antibiotics are allowed; meat and bone meal can be fed to cattle; there is no real traceability in the supply chain; and welfare and environmental regulations are completely inadequate compared to EU standards. If the EU really requires that "all imported food must meet EU standards," then all Brazilian beef imports must be suspended immediately. Brazil can continue to supply beef to its largest markets, China and the United States.

Tipperary Cattle Market in Tipperary town hosted its weekly general cattle sale on Friday, November 8, with over 650 cattle on offer in the sale and a full clearance.

This week’s factory quotes see the lower prime beef prices from last week move up, while the stronger prime cattle price offerings from last week have held for this week. Cow prices have strengthened to some degree and with only six weeks remaining until Christmas, demand for beef appears to be continuing on firm footing. Weather conditions are also remaining favourable and the relatively dry conditions forecast again this week coupled with the strong beef trade is helping to keep farmer spirits high. Factory quotes: Heifers and steers Heifers are being quoted at €5.25/kg on the grid with €5.30/kg being quoted for suitable heifers with 300-400kg carcass weights at the higher-end of the price scale. Steers are being quoted at €5.20/kg on the grid again this week with €5.25/kg on offer for suitable steers with 300-400kg carcass weights at the higher-end of the price scale. Prices for prime heifers and steers are at a record high for the time of year and with supplies expected to ...