No justification for lower meat prices, says IFA

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No justification for lower meat prices, says IFA

IFA livestock chairperson, Brendan Golden, said the latest Beef Market Tracker show prices in our key export markets remain strong and steady, increasing by 1c/kg in the previous week.

Mr Golden said the moves by meat factories to undermine the trade are not justified based on the most recent market information.

He said numbers of cattle are tight and supermarket demand remains strong for beef.

The IFA spokesperson said factories cannot justify dropping prices when the Prime Export Benchmark price, compiled by Bord Bia, continues to show strengthening prices in our key markets for beef.

He said beef farmers have reacted angrily to this move by factories at a time when production costs are at their highest on beef farms.

“In our meeting with MII, we left the industry representative body in doubt that this approach by factories is unacceptable,” he said.

Mr Golden noted that, despite some factories quoting lower, base prices of €3.75 and €3.80/kg have been paid by factories for suitable bullocks and heifers. He said farmers should reject the lower quoted prices.