Irish Beef Price Lags Behind Export Markets

IFA Livestock Chair Declan Hanrahan said the behaviour of factories in undermining the beef trade is unacceptable and must stop immediately.

He said further cuts today are completely at odds with the marketplace and farmers should not be misled by the negative propaganda put forward by factories and their agents.

“Demand for beef in our key export markets is strong and rising. The latest prime export benchmark price has continued to rise and now sits 17c/kg ahead of the prime Irish composite price,” he said.

Cattle supplies are tight and are projected to fall by a further 4% or 30,000 to 40,000 head this year, leaving no additional cattle available to factories for slaughter. This trend is replicated across or key export markets where supplies are forecasted below to be 2025 levels.

“It’s unfair to winter beef finishers who have invested heavily in having cattle fit at this time of year that factories can pull quotes while prices rise across the EU,” he said.

The IFA Livestock Chair said all indicators point to a strong beef market and factories must stop the gamesmanship and reflect the reality of market conditions in prices offered to farmers.