News

Ireland: Factory opportunism on beef prices is unacceptable, says farm organization

Frozen Bone-In Beef
Meat
Ireland
Sustainability & Environmental Impact
Market & Price Trends
Published Apr 13, 2024

Tridge summary

The Irish Farmers' Association (IFA) has criticized beef factories for not raising beef prices despite favorable market conditions, including a rise in the Prime Export Benchmark Price and strong demand, particularly from the UK. IFA National Livestock Chair, Declan Hanrahan, pointed out that the current lower prices compared to last year are unjustified, given the reduced cattle supplies and the additional costs farmers are facing due to recent adverse weather conditions. Hanrahan is calling for an immediate price adjustment to reflect the true market value and the anticipated tight supply of cattle in the near future.
Disclaimer: The above summary was generated by a state-of-the-art LLM model and is intended for informational purposes only. It is recommended that readers refer to the original article for more context.

Original content

Factories have been accused of trying to “take advantage” of the weather conditions that farmers are currently battling by holding back beef prices. According to the Irish Farmers’ Association (IFA) market conditions and the supplies of finished cattle “justify” stronger beef prices. The IFA national livestock chair, Declan Hanrahan, today (Friday, April 12) pointed to the Prime Export Benchmark Price- which increased a further 4c/kg in the latest Bord Bia report – as a strong reflection of the demand for beef in Ireland’s key export markets. But Hanrahan said prices are currently over 10c/kg behind this time last year while beef prices in the UK are currently at over 12c/kg ahead of last year for the latest reported week. He believes there is simply is no justification for the disparity and urged factories to “move beef prices on”. Beef prices “Demand for beef is extremely strong in the UK, Northern Ireland factories are freely offering 5c/kg more for ROI cattle than some ...
Source: AgriLand
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