War in Ukraine pushed up the beef price in UK

The Russian invasion of Ukraine made the oil price reach the highest level for the last seven-years and already next day after the start of military operations the farmer buying groups reported a 7p per liter increase in red diesel. Moreover, the conflict pushed March wheat contracts to USD 326.81 per MT. In context of increasing production costs beyond previous breakeven points of 420p per kg for beef finishers, current beef price rose to 430-450p per kg.