Factories Can and Must Do More on Beef Price

IFA Livestock chair Declan Hanrahan said attempts by factories to undermine beef prices this week are unnecessary and must stop.

He said demand for beef is expected to pick up over the summer months in our key markets against a backdrop of tighter supplies of cattle.

UK production is predicted to tighten considerably as we move through the year, with prices remaining strong.  UK prices are more than 60c/kg above ours.

“This gap in prices with our most important market is not acceptable and must be closed. Volumes of beef sold into this market increased significantly in 2023 and grew a further 25% earlier this year, which must be reflected in beef prices to farmers,” he said.

Declan Hanrahan said EU beef production fell by 3.9% in 2023, with a further reduction of 2.3% predicted for the year. Consumption levels of beef are reasonably stable.

If Bord Bia calculations are correct, supplies of cattle here are projected to be back between now and year end by up to 60,000 head.

The IFA livestock chair said all of this points to strong and favourable conditions for beef, which must be returned to farmers by factories in higher prices.

“Farmers should sell hard and ignore the unfounded negativity on beef prices from factories and their agents,” he concluded.