The emergency measures introduced in the United Kingdom due to the BSE crisis have resulted in the closure of export markets and the exclusion of approximately 300,000 tonnes of beef produced in the United Kingdom from the food chain under the "over thirty months slaughter scheme". Beef production in the United Kingdom has fallen by approximately 30 per cent as a result of the "over 30 months slaughter scheme" and, although export markets still remain closed to beef from the United Kingdom, this has significantly reduced the level of self sufficiency in beef in the United Kingdom. The market in the United Kingdom is also quite buoyant at present because of strong seasonal demand at this time of year. Accordingly, market prices in the United Kingdom have improved significantly from earlier levels and now stand at 76 per cent of the intervention price.
Irish cattle prices have also recovered in recent weeks in line with lower supplies and improvements in EU markets. Irish steer prices now stand at 72 per cent of the intervention price compared to 63 per cent for most of the autumn period.