Weanling prices surged past €7/kg this week, with one farmer in Elphin taking home a cheque of almost €80,000 for 33 weanlings.
Top-quality spring-born weanlings are making north of €7/kg.
As peak autumn mart sales begin, Irish Farmers Journal analysis shows that beef finishers need €9/kg in order to make a profit this year.
Meanwhile, Brussels began the process of ratifying the Mercosur free trade deal on Wednesday, sparking farm organisation anger at the prospect of 99,000t of South American beef having lower-tariff access to the EU market.
The trade element of the Mercosur deal will need the backing of at least 15 member states and a simple majority of MEPs to take effect.
Brussels has sought to dampen beef farmer concerns by detailing how it would operate the emergency brake that would suspend this preferential tariff access.
A single member state could request the triggering of an investigation into “whether there a is a surge of imports or a decrease in prices” due to the new tariff for four South American countries.
Evidence
Should such evidence be found by the Commission, the lower tariff rate could be suspended within 21 days.
This week’s proposals also bring clarity to the €1bn emergency farmer support fund committed by then-Commissioner for Agriculture Phil Hogan in 2019.
This fund is to be subsumed into the seven-year €6.3bn revamped crisis reserve which must cater for all EU farm emergency funds, such as those required for weather and animal disease crises.
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