No Justification for Undermining Beef Prices – IFA
IFA Livestock Chair Declan Hanrahan said our beef prices are lagging behind both the EU and UK prices by up to 20c/kg.
He said supplies continue to tighten in both these key markets for Irish beef, with prices steadily increasing since the beginning of February to push the Prime Export Benchmark price 10 c/kg above our price. This gap is widening.
“Attempts by factories here to reduce prices are completely at odds with the reality of the marketplace and direction of travel of UK and EU beef prices.”
“The behaviour of factories here in attempting to undermine the market and cut prices for winter finishers is nothing short of opportunism and profiteering off the back of farmers who have made enormous investments in buying and feeding cattle to have ready for this time of year,” he said.
Demand for beef is strong, supplies are extremely tight in our key export markets and prices there are strengthening. “Farmers should push back strongly on the unjustified attempts by factories and their agents to undermine the trade.”
Declan Hanrahan said factories must stop the gamesmanship and start returning the full value of the marketplace in beef prices. There is no justification in our prices dropping while UK and EU beef prices increase.
