Action is sought on beef price cuts

FARMERS and beef finishers are pinning their hopes that the factories ‘prices slash’ last week will be short-lived given the market/supply situation.

The meat plants have again been slammed for imposing ‘opportunistic cuts’ on quotes last week which saw the base price for heifers drop from €3.90/kg to €3.70/kg.

Galway IFA Livestock Representative, Micheál Haverty, told the Farming Tribune that there could be no justification for the cuts, other than opportunism from the factories.

“We have some grounds for believing that the prices will rebound quickly enough, but the point is, that these cuts should never have happened in the first place.

“Farmers feel very strongly that it is past time for a regulator with statutory powers to be put in place as regards the whole situation with beef prices.

“Whether it be the likes of energy suppliers or the insurance industry, regulators are in place – we need something similar to deal with the meat plants,” said Micheál Haverty.

He said that Teagasc had established that farmers needed to be getting a base price of €4.50 per kg to at least break even from beef production but they were still a long way off this.

For more, read this week’s Connacht Tribune.

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