A short-lived period of stability in price has been rocked this week as factories move to put downward pressure on the beef trade. Five to 10 cents has been taken from the base prices paid, with factories quoting €3.70/kg for steers and heifers.

Tough selling has seen some farmers attaining a price of €3.75/kg for heifers, but steers are being bought at the quoted price of €3.70/kg. There is further talk of efforts to pull prices down more next week.

These unjustified price cuts are raising serious concerns among beef farmers ahead of the autumn store and weanling trade.

This price drop comes despite stability in the UK, our main export market, which has been more balanced in recent weeks.

The period when large numbers of steers and heifers will be coming off grass is fast approaching.

Many steers are nearing 30 months of age, above which they won’t be eligible for the 12 cents QPS payment.