Despite the wounds of the 2014 beef crisis still fresh in the memory, the sector remains positive about the future, a major report has found.
In the latest of its series of Outlook reports, AIB-commissioned research, in association with the IFA, has reported a remarkably positive view of the beef sector. The developments around the opening of new export markets to the USA and China have impacted on overall thinking.
Outlook reports measure overall feeling in the industry. This report on the beef sector is the 11th in the series, with one earlier agricultural sector report carried out on dairying in 2013.
The research was conducted by Ipsos MRBI and Broadmore Research & Consulting, involving a telephone survey of 200 IFA members that have at least half their land dedicated to beef production. Interviews took place during the last quarter of 2014, at a time when there was little positivity in the beef sector.
Main findings
58% of farmers have invested in their enterprise in the past three years and 38% are planning to do so in the next three years, in areas such as herd expansion, land improvement, breeding, new technology and winter housing. Half of farmers under 45 and half of farmers with an off-farm job are likely to invest. Challenges identified by farmers surveyed include fluctuating cattle prices (25%), pressure on profitability (18%) and rising input costs (13%). 92% of farmers have already taken action to address the challenges encountered, with 66% planning to introduce further measures, primarily involving grassland management, increased stock numbers, and joining the Bord Bia Quality Assurance scheme. Age profile: 4% under 35 and 20% over-65.IFA president Eddie Downey and Livestock Committee chair Henry Burns not surprisingly identify improving on-farm profitability as the key to a future strong livestock sector and said that while Food Harvest 2020 has delivered in terms of contribution to economic recovery, the 2025 strategy will have to be about profitability for farmers.
For Anne Finnegan, AIB, investment in beef will continue to be an import part of the bank’s portfolio. While dairying is the current large area of capital investment, the beef sector invested heavily in 2008/2009, triggered by the Waste Management Scheme. Given that the research was undertaken towards the end of last year at the height of the disputes in the beef sector, it is remarkable to have such a positive outlook and commitment to the development of beef farm businesses.
Despite the wounds of the 2014 beef crisis still fresh in the memory, the sector remains positive about the future, a major report has found.
In the latest of its series of Outlook reports, AIB-commissioned research, in association with the IFA, has reported a remarkably positive view of the beef sector. The developments around the opening of new export markets to the USA and China have impacted on overall thinking.
Outlook reports measure overall feeling in the industry. This report on the beef sector is the 11th in the series, with one earlier agricultural sector report carried out on dairying in 2013.
The research was conducted by Ipsos MRBI and Broadmore Research & Consulting, involving a telephone survey of 200 IFA members that have at least half their land dedicated to beef production. Interviews took place during the last quarter of 2014, at a time when there was little positivity in the beef sector.
Main findings
58% of farmers have invested in their enterprise in the past three years and 38% are planning to do so in the next three years, in areas such as herd expansion, land improvement, breeding, new technology and winter housing. Half of farmers under 45 and half of farmers with an off-farm job are likely to invest. Challenges identified by farmers surveyed include fluctuating cattle prices (25%), pressure on profitability (18%) and rising input costs (13%). 92% of farmers have already taken action to address the challenges encountered, with 66% planning to introduce further measures, primarily involving grassland management, increased stock numbers, and joining the Bord Bia Quality Assurance scheme. Age profile: 4% under 35 and 20% over-65.IFA president Eddie Downey and Livestock Committee chair Henry Burns not surprisingly identify improving on-farm profitability as the key to a future strong livestock sector and said that while Food Harvest 2020 has delivered in terms of contribution to economic recovery, the 2025 strategy will have to be about profitability for farmers.
For Anne Finnegan, AIB, investment in beef will continue to be an import part of the bank’s portfolio. While dairying is the current large area of capital investment, the beef sector invested heavily in 2008/2009, triggered by the Waste Management Scheme. Given that the research was undertaken towards the end of last year at the height of the disputes in the beef sector, it is remarkable to have such a positive outlook and commitment to the development of beef farm businesses.
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