British cattle prices have now fallen for a third week in a row, with the overall average steer price now at £6.78/kg (€8.07/kg), having reached a peak of £7.03/kg (€8.37/kg) at the start of May.
While any price fall is unwelcome, these are coming after a period of rapid price increases and average prices for prime beef in Britain are still £2/kg (€2.38/kg) higher than this time last year.
Irish prices have been more stable in recent weeks, but they never came close to British prices in recent months.
Even after recent falls, the British average R3 steer price remains 63c/kg higher than its Irish counterpart.
Consolidation would be ideal
After a period of sharp price increases, the best outcome for Irish and British beef producers would be a period of consolidation, ideally around current market levels.
This year so far has been close to perfection for beef, with consumer demand growing alongside farmgate prices. There have been several anecdotes about steak being sold out in supermarkets by 11am.
Tighter cattle supplies in Britain have also contributed and created opportunity for a greater proportion of Irish beef for the supermarkets that sell British and Irish beef alongside each other.
Irish cattle supply is forecast to fall in 2025, but, so far, it is on par with last year and almost 32,000 head up on prime cattle. Of course, this means that there is likely to be a supply deficit later in the year, but that isn’t the issue at this moment.
Passing price rise on to consumers
While higher farmgate prices were welcomed by farmers, ultimately, they have to be passed on through the supply chain.
In the earlier part of this year, supermarkets were carrying the cost of price increases, but it is inevitable that rising prices get passed on at some point.
Figure 1 shows that beef price has been on an upward trend in 2025, having been relatively flat throughout 2024.
The consumer price inflation index shows that between November 2024 and March 2025, the index for beef rose by almost 10 points, while the overall food and drink index increased by just over two points in the same period.
This data is supplied by the UK’s Office for National Statistics (ONS) and while the most recent data is up to March 2025, there is nothing to suggest that it won't continue on an upward trend in subsequent months.
Comment – the crunch has arrived
Up to now, 2025 has been a perfect year for beef producers in Ireland and Britain.
Farmgate prices have surged, setting new records week after week. Alongside this, retail consumption has also been on the increase, as higher prices were only slowly passed on to consumers.
While there is no need for alarm on UK beef prices given where they are compared with a year ago, it is inevitable that further retail price increases will follow in the coming months.
The latest Kantar consumer data up to 20 April published by the Agriculture and Horticulture Development Board shows that while the 52-week data showed a marginal increase in volume consumed, the 12-week data showed a marginal decline.
A period of stability in prices and consumption over the coming weeks would be ideal for farmers.
British cattle prices have now fallen for a third week in a row, with the overall average steer price now at £6.78/kg (€8.07/kg), having reached a peak of £7.03/kg (€8.37/kg) at the start of May.
While any price fall is unwelcome, these are coming after a period of rapid price increases and average prices for prime beef in Britain are still £2/kg (€2.38/kg) higher than this time last year.
Irish prices have been more stable in recent weeks, but they never came close to British prices in recent months.
Even after recent falls, the British average R3 steer price remains 63c/kg higher than its Irish counterpart.
Consolidation would be ideal
After a period of sharp price increases, the best outcome for Irish and British beef producers would be a period of consolidation, ideally around current market levels.
This year so far has been close to perfection for beef, with consumer demand growing alongside farmgate prices. There have been several anecdotes about steak being sold out in supermarkets by 11am.
Tighter cattle supplies in Britain have also contributed and created opportunity for a greater proportion of Irish beef for the supermarkets that sell British and Irish beef alongside each other.
Irish cattle supply is forecast to fall in 2025, but, so far, it is on par with last year and almost 32,000 head up on prime cattle. Of course, this means that there is likely to be a supply deficit later in the year, but that isn’t the issue at this moment.
Passing price rise on to consumers
While higher farmgate prices were welcomed by farmers, ultimately, they have to be passed on through the supply chain.
In the earlier part of this year, supermarkets were carrying the cost of price increases, but it is inevitable that rising prices get passed on at some point.
Figure 1 shows that beef price has been on an upward trend in 2025, having been relatively flat throughout 2024.
The consumer price inflation index shows that between November 2024 and March 2025, the index for beef rose by almost 10 points, while the overall food and drink index increased by just over two points in the same period.
This data is supplied by the UK’s Office for National Statistics (ONS) and while the most recent data is up to March 2025, there is nothing to suggest that it won't continue on an upward trend in subsequent months.
Comment – the crunch has arrived
Up to now, 2025 has been a perfect year for beef producers in Ireland and Britain.
Farmgate prices have surged, setting new records week after week. Alongside this, retail consumption has also been on the increase, as higher prices were only slowly passed on to consumers.
While there is no need for alarm on UK beef prices given where they are compared with a year ago, it is inevitable that further retail price increases will follow in the coming months.
The latest Kantar consumer data up to 20 April published by the Agriculture and Horticulture Development Board shows that while the 52-week data showed a marginal increase in volume consumed, the 12-week data showed a marginal decline.
A period of stability in prices and consumption over the coming weeks would be ideal for farmers.
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