Lagging Irish beef prices are costing farmers €2m/week, the Irish Farmers' Association (IFA) has estimated.
The association has highlighted that the gap between Irish beef prices and the Bord Bia export benchmark price, currently at 19c/kg, is further widening.
IFA president Tim Cullinan is calling on meat factories to “immediately address” this gap, which he said is costing the Irish livestock sector “millions on a weekly basis”.
“We estimate that the gap between the export benchmark price and the Irish beef price is costing Irish beef farmers about €2m per week at the moment.
“This is at a time when farmers are really struggling due to bad weather and escalating costs,” he said.
‘Need every cent’
The IFA president pointed out that “farmers need every cent that is in the market to be returned to them”.
IFA president Tim Cullinan. \ Philip Doyle
“But instead of closing the gap with the benchmark price, factories are going in the other direction with beef price,” he warned.
Cullinan said suggested that while beef prices internationally are on a downward trend, the recent declines in Irish prices have been much steeper than what has occurred in other markets.
He was backed by IFA livestock chair Brendan Golden, who insisted that “factories start supporting farmers instead of short-changing them, which is clearly the case at the moment”.
Read more
Farmer unrest mounting as factories continue to apply cuts
Lagging Irish beef prices are costing farmers €2m/week, the Irish Farmers' Association (IFA) has estimated.
The association has highlighted that the gap between Irish beef prices and the Bord Bia export benchmark price, currently at 19c/kg, is further widening.
IFA president Tim Cullinan is calling on meat factories to “immediately address” this gap, which he said is costing the Irish livestock sector “millions on a weekly basis”.
“We estimate that the gap between the export benchmark price and the Irish beef price is costing Irish beef farmers about €2m per week at the moment.
“This is at a time when farmers are really struggling due to bad weather and escalating costs,” he said.
‘Need every cent’
The IFA president pointed out that “farmers need every cent that is in the market to be returned to them”.
IFA president Tim Cullinan. \ Philip Doyle
“But instead of closing the gap with the benchmark price, factories are going in the other direction with beef price,” he warned.
Cullinan said suggested that while beef prices internationally are on a downward trend, the recent declines in Irish prices have been much steeper than what has occurred in other markets.
He was backed by IFA livestock chair Brendan Golden, who insisted that “factories start supporting farmers instead of short-changing them, which is clearly the case at the moment”.
Read more
Farmer unrest mounting as factories continue to apply cuts
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