The Irish Farmers' Association says factories are trying to talk down beef prices, while markets are strong with Brazilian beef out of the EU market since September. The Bord Bia Prime Export Benchmark has moved 24c/kg above Irish prices and UK beef prices rose 4p/kg in a week.
Irish supply numbers are near last year's levels and are expected to tighten.
Brazilian beef being excluded from the EU and firm UK and export benchmarks support Irish and European beef prices into the Christmas trade. Tightening supply points to continued upward pressure on cattle prices.
Not enough comparable past events yet for a historical read.
Moves of each commodity's benchmark from the last close before the event. Historical reads pool past events of the same kind; they describe what happened, not what will. Not investment advice.