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The Irish cattle price is running at 107% of the EU average price year to date, says Cormac Healy of Meat Industry Ireland (MII).
“Frustration with the recent weakening in Irish cattle price is understandable but criticism of beef processors ahead of the upcoming Beef Forum fails to take into account market realities and the fact that the year-to-date price paid for Irish cattle remains ahead of last year and only in the last two weeks have current prices dropped below the corresponding period last year,” Healy said.
He confirmed to the Irish Farmers Journal that MII will be attending the Beef Forum on Wednesday.
“The number of animal processed by the industry year-to-date is up 3.5% or 45,000 head. This additional Irish beef output is coming on to an EU market already in strong supply,” Healy added.
Other factors
Other factors affecting the European market include a 14% increase in beef import volumes into the EU and “heightened sensitivities around imported product in some markets”, which has weakened demand, MII says.
“With strong throughput levels over the summer and in recent weeks, market demand has not responded to absorb the additional output and we are seeing beef stock levels increasing.
''Taking account of all factors impinging on the market, there are many challenges ahead for producers and processors and our interests will be best served by working collaboratively,” MII says.
The latest Kantar Worldpanel data on overall retail beef sales in the UK showS both volume and value of beef sales down by 4% in the latest reported period and volumes down by 2% in the last 12 months.
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