Factories are inflicting another 5c/kg cut to beef prices with steers quoted at a base of €3.75/kg and heifers €3.85/kg.

IFA national livestock chair Angus Woods has accused factories of financially crippling farmers. “There is an obsession in factories to swell their own pockets. The latest downward price drive will do serious damage at farm level.

Prices in the UK have increased every week from early August, rising from £3.63/kg to £3.76/kg, a price increase equivalent to 15c/kg. At the same time, Irish factories have cut prices.”