IFA National Livestock Committee Chairman Michael Doran said the major meat factories have confirmed that they are engaging positively with their farmer suppliers on contracts for winter finishing.
Michael Doran said Teagasc figures show that winter finishers need a price in the region of €4.20/kg for cattle out of sheds.
The IFA livestock leader said the negative propaganda and price pressure from the factories this week is totally unjustified. He said UK cattle prices are heading for €4.00/kg. Supplies are much tighter than last year and projected to get even tighter by year end. The fifth quarter is worth €100 to €125 per head.
Michael Doran said the true reflection of the market is that some of the factories that are attempting to cut prime beef prices this week have increased cull cow prices by up to 6c/kg.
Michael Doran said farmers should strongly reject any price pressure from factories or agents. He said there is absolutely no basis for any price pressure.