March 4, 2021

 

Irish Farmers' Association to hold online meeting addressing unjustified beef prices in Ireland

 

 

The Irish Farmers' Association (IFA) will hold an online meeting on March 9 for beef farmers to discuss the seriousness of unjustified beef price divergence in Ireland.

 

IFA president Tim Cullinan argued that the latest market price information validates beef price increase, highlighting that the Bord Bia Price tracker showed the prime export benchmark price increased by 4c/kg (US$0.048) to €3.80/kg (US$4.56), while the prime Irish composite price dropped by 3c/kg (US$0.036) to €3.68/kg (US$4.42).

 

Cullinan said this level of price disparity is unjustified and that factory prices must increase.

 

He added: "Our beef processors must increase prices in line with the positive market conditions that exist for beef as clearly shown in the export benchmark price which reflects the market prices in our key UK and EU markets for beef.

 

"Farmers are very angry at the cynical and unjustified price cutting that has gone over the past few weeks."

 

IFA National Livestock Committee chairman Brendan Golden said they are expecting continued strong key market exports and stable supplies of finished cattle trend for Ireland.

 

Golden claimed that sales of beef have performed well in supermarkets despite COVID-19 restrictions and has offset the loss of the foodservice sector.

 

Additionally, the demand for beef is expected to increase as lockdown restrictions ease with the roll-out of the vaccination programmes and the return of normal for the foodservice sector.

 

Golden emphasised that factories must reflect the full value of the market place in prices paid to farmers.

 

"Steers are making €3.75/kg (US$4.51) and heifers' €3.80/kg (US$4.57)… with higher deals for larger lots and increased breed bonuses available despite lower quotes from some factories. Factory agents are very active in marts for the forward store and finished cattle, highlighting the demand that exists for beef," said Golden, insisting that farmers should continue to reject the lower quoted prices to maximise returns.

 

The cow trade is starting at €3.00/kg (US$3.60) for P grades and moving to €3.50/kg (US$4.20) for better quality R and U grading cows. Young bulls are ranging from €3.60 (US$4.32) to €3.85/kg (US$4.63), Golden said.

 

 - AgriLand