If you have a new account but are having problems posting or verifying your account, please email us on hello@boards.ie for help. Thanks :)

Hello all! Please ensure that you are posting a new thread or question in the appropriate forum. The Feedback forum is overwhelmed with questions that are having to be moved elsewhere. If you need help to verify your account contact hello@boards.ie

Hi there,
There is an issue with role permissions that is being worked on at the moment.
If you are having trouble with access or permissions on regional forums please post here to get access: https://www.boards.ie/discussion/2058365403/you-do-not-have-permission-for-that#latest

Beef Price Vs Sterling Movement

foundation10 · 2019-12-13 09:56:37

Given the gains we have seen in the £/€ over the past few weeks and considering most of our beef is going into the UK market one would expect a positive impact on price but the opposite seems to be the case. The FX rate of Stg/Eur on 02/09/19 was 0.90901 and today this is at 0.8348 this is a gain of over 8%. The average…

13-12-2019 9:56am

#1

foundation10

Registered Users, Registered Users 2 Posts: 242 ✭✭

Join Date: February 2009

Posts: 217

Given the gains we have seen in the £/€ over the past few weeks and considering most of our beef is going into the UK market one would expect a positive impact on price but the opposite seems to be the case.

The FX rate of Stg/Eur on 02/09/19 was 0.90901 and today this is at 0.8348 this is a gain of over 8%.

The average price of an R3 Steer per Dept of Ag Week 35 (end of Aug) was 361.6c compared to last's weeks analysis by the Dept Week 49 of 360c. For Heifers this was 372c at end of Aug compared to 369c for week 49.

In summary 8% is being made by someone in the food chain and it ain't the farmer

4