IFA President Joe Healy has accused the factories of hijacking the drought conditions to cut beef prices and undermine the market. He said, “Factories are taking advantage of the drought conditions and imposing unjustified price cuts ahead of the market”.
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.
IFA National Livestock Chairman Angus Woods said factories are struggling to buy cattle at the lower quoted prices this week and having to pay at least a base of €4.15 and €4.25 for steers and heifers to get adequate numbers.