The IFA presented some new figures to TDs and Senators this week as part of their campaign for more funding for the beef sector ahead of next month’s budget.
They have calculated that beef farmers are losing an estimated €5.5m/week based on current beef prices when compared to 2015 prices.
The analysis compares prices in 2019 v pre-Brexit prices in 2015. Table 1 outlines the difference in prices between the two periods.
The €93.81m of losses does not take into account the 90,000 cattle backed up in the system as a result of the last eight weeks' protests and if you take that on board, the cattle price loss would exceed €100m.
On an individual animal basis, beef farmers are incurring losses from ranging from €147/head losses on heifers to €199/head losses on young bulls at current prices. Table 2 outlines the losses being incurred by individual groups of stock at current beef prices.
IFA national livestock chair Angus Woods commented: “With livestock farmers losing up to €200 per head, Minister Creed and the Government have no choice but to make an application to Brussels and the Minister for Finance for another aid package.”
With the factory protests over, attention turns to the budget and Brexit