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Factories Hijacking Drought Conditions to Cut Beef Prices, IFA Reports

09 July 2018

IRELAND - IFA President Joe Healy last week accused the factories of hijacking the drought conditions to cut beef prices and undermine the market.

Mr Healy said, "Factories are taking advantage of the drought conditions and imposing unjustified price cuts ahead of the market."

He warned the factories to stop price cutting and undermining the beef market. He said over the last four weeks, prices have been cut by 20c/kg or up to €80 per head, which is the profit margin in most cases.

Mr Healy said Agriculture Minister Michael Creed needs to get tough with the factories and demand they stop the unnecessary price rot.

He said the Minister can no longer remain silent on the factories and that he must demand that they show some level of respect for his work on market access and he could not allow them to throw it all back in his face with unjustified price cuts.

IFA National Livestock Chairman Angus Woods said the beef market demand remains strong, especially around the manufacturing trade with the World Cup, and the price cuts are not justified.

Prices in Ireland's main export market in the UK remain strong and steady, with the R3 steer price at £3.79/kg, equivalent of €4.54/kg.

Mr Woods said the previous week’s beef kill was 33,900 head, which was in line with the numbers this time last year of 33,615 head.

TheCattleSite News Desk

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