Irish Beef Prices Way Behind EU  Benchmark Price

IFA Livestock Chair Declan Hanrahan said the continued downward pressure on beef prices applied by factories is completely at odds with market conditions and must stop immediately.

The latest prime Irish composite beef price reported by Bord Bia has recorded a further decline of 7c/kg, which has opened a gap of 42c/kg with the prime export benchmark beef price.  This is the largest gap recorded since November 2024. UK beef prices are now over 50c/kg above Irish beef prices.

“It’s completely unacceptable and reckless that factories continue to talk down the trade when prices in our key export markets strengthen. There is now a gap of over 40c between where Irish beef prices are and what our key export markets are returning. It’s up the price of beef should be going, not down,” outlined the IFA Livestock Chair.

“Factories need to urgently reassess their pricing structures to avoid causing serious lasting damage to the beef sector.  Farmers cannot tolerate any further price cuts, particularly as the price of fertiliser and fuel is escalating upwards.”

Supplies of finished cattle are tightening considerably on the ground with weekly throughput operating some 4,000 head behind the equivalent week in 2025. Based on supply projections for the year, there will be up to 60,000 fewer cattle available to factories over the coming months.

It’s a similar story in the EU beef market where production is projected to be back up to 4% this year, creating ample opportunity for Irish beef and stronger returns to beef farmers.

“There is no justification in the marketplace for any weakening of prices, which is putting further pressure on producers who already operate on very low margins. Farmers should not be misled by the negativity from factories.  Markets are strong, supplies are tight and there is huge capacity for increases,” concluded the IFA Livestock Chair.