CattleCattle Prices

No Justification For Lower Factory Prices


IFA Livestock Chairman Brendan Golden said the latest Beef Market Tracker show prices in our key export markets remain strong and steady, increasing by 1c/kg in the last week.

Brendan Golden said the moves by meat factories to undermine the trade are not justified based on the most recent market information published today.

He said numbers of cattle are tight and supermarket demand remains strong for beef.

Brendan Golden said factories cannot justify dropping prices when the Prime Export Benchmark price, compiled by Bord Bia, continues to show strengthening prices in our key markets for beef.

He said beef farmers have reacted angrily to this move by factories at a time when production costs are at their highest on beef farms.

“In our meeting with MII earlier this week, we left the industry representative body in doubt that this approach by factories is unacceptable,” he said.

Brendan Golden said despite some factories quoting lower, base prices of €3.75 and €3.80/kg have been paid by factories this week for suitable bullocks and heifers.

He said farmers should reject the lower quoted prices.

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