FACTORIES EXPLOITING DROUGHT CONDITIONS TO CUT CATTLE PRICES

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FACTORIES EXPLOITING DROUGHT CONDITIONS TO CUT CATTLE PRICES
02 Jul 2018

FACTORIES EXPLOITING DROUGHT CONDITIONS TO CUT CATTLE PRICES

Cattle, Prices

IFA President Joe Healy said factories must stop cutting prices and undermining the beef market. He said the factories are taking advantage of the drought conditions and over the last four weeks, and have cut 20c/kg off the price, or up to €80 per head, which is the profit margin in most cases.

Joe Healy said Agriculture Minister Michael Creed needs to call the factories to halt and stop the unnecessary price rot. He said the Minister worked hard on market access for the factories and he cannot allow the factories throw all this back in his face with unjustified price cuts.

The IFA President said the beef market demand remains strong, especially around the manufacturing trade with the World Cup and the price cuts are not justified. Prices in our main export market in the UK remain strong and steady, with the R3 steer price at £3.79/kg, equivalent of €4.54/kg.

He said last week’s beef kill was 33,900 head, which was in line with the numbers this time last year of 33,615 head.

The IFA President said farmers facing grass shortages should examine all of the options, including meal feeding and avoid selling unfit or under finished stock.

Joe Healy also called on Minister Creed to demand an increase in the advance Basic Payment to 75% and an 85% advance on Rural Development measures. He said at a meeting of the Charter of Farmers Rights Monitoring Committee last week IFA called on the Minister Creed to seek these increases at EU level.

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