November 26, 2019
Online cattle price tracking tool launched for Ireland farmers
The Bord Bia Beef Market Tracking Tools aims to improve transparency on cattle prices, which compares prices from 2014 onwards, reported RTÉ Ireland.
The tool comprises three components, which are the cattle price index, beef market price index and an indicator for offal.
The tool was launched in response to the lack of cattle prices' transparency voiced out by cattle farmers in Ireland. The farmers have alleged that a small group of operators in the industry have control over cattle prices in the country because of their large scale.
Tara McCarthy, Bord Bia CEO said the tracking tool is developed to track overall trends, in beef cattle, wholesale, retail and 5th quarter prices, and will be updated continually.
She added that her company will be working with Ireland’s Beef Market Taskforce in the next few months to improve the tracking tool with more market information for local farmers.
Michael Creed, Ireland's Minister for Agriculture said the ministry had heard the calls for more transparency in the industry and will implement measures to boost transparency.
The Bord Bia Beef Market Tracking Tool was one of the agreed measures during talks in September regarding the future of Ireland's beef industry.
- RTÉ Ireland