Holly Cairns (Cork South West, Social Democrats)
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563. To ask the Minister for Agriculture, Food and the Marine the steps he is taking in response to a differential that has opened up between Irish and UK steers prices in recent weeks; and if he will make a statement on the matter. [25804/23]

Charlie McConalogue (Donegal, Fianna Fail)
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As the Deputy will be aware, cattle prices are a commercial matter to be negotiated between buyers and suppliers in the marketplace and the Government has no role in determining commodity prices in the beef sector.

Given the export dependence of the sector, beef prices are a function of demand and supply in the domestic and main overseas markets and are influenced by the interplay of other relevant factors such as currency fluctuations, changing conditions and opportunities in European vis-a-vis international markets, the degree of competition in alternative market outlets at a particular time, transport costs, returns from retail versus food service channels, overall economic conditions in importing countries including the impact of food price inflation for higher-value cuts on consumer sentiment and so forth.

Additionally, there are a variety of other interrelated reasons to explain why prices in different markets may not be directly comparable including the degree of self-sufficiency, consumer preferences for domestic product and seasonal factors.

Nevertheless, to ensure transparency for all sector stakeholders, the EU Commission, my Department and An Bord Bia publish various online datasets on a range of meat price indicators.

Bord Bia‘s market tracking data shows that the average deadweight price recorded for R3 prime male cattle in Ireland was €5.23/kg on 20th May, compared to €5.72/kg in the UK on the same date. However, it is also evident from available data for previous years that the UK steer price is generally above the Irish price.

A more relevant comparator, therefore, is the Bord Bia data tracking the prime Irish composite price against the prime export benchmark price which shows that the Irish price is currently €0.28 per kg above the export benchmark price.

In this context, the prime Irish composite price refers to the average price paid for prime beef animals (i.e. steers, young bulls and heifers) slaughtered weekly in Ireland based on the annual kill share for those categories and the main carcass grades.

The prime export benchmark reflects the prices paid for prime cattle in different carcass categories and grades and is weighted according to the relative importance of key export markets for Irish beef; specifically, the UK, France, Italy, Germany, Netherlands and Sweden.

The relevant Bord Bia data can be accessed at the following link: Beef Market Tracking - Bord Bia | Irish Food Board

I will always seek to provide a range of financial incentives that benefit beef farmer incomes while supporting the economic and environmental efficiency of the sector. The core intervention targeted towards the sector under the current CAP strategic plan is the Suckler Carbon Efficiency Programme which will augment the technical gains made under Beef Data and Genomics Programme and has attracted over 20,000 applicants to date. The National Dairy Beef Welfare Scheme has attracted over 14,000 applicants to date.

My track record is one of providing strong support the beef sector in recognition of its important role in fostering balanced regional development and its significant contribution to aggregate agrifood exports.