Factories slash beef price by up to €50/hd
Processors trying to ‘panic’ farmers into selling claim farm leaders
FACTORY moves to slash beef prices by €20 to €50/hd has provoked a furious reaction from the farm organisations.
The main processors pulled heifer quotes by 10c/kg yesterday or €35-40/hd, steer prices are back 5c/ kg, or around €15-20/hd, and cow quotes are down by up to 20c/kg or over €50/hd.
The move comes despite a reported shortage of manufacturing beef across Europe.
The IFA, ICSA and ICMSA have described the price cuts as a blatant attempt to panic farmers into moving stock and they urged members to “hold tough”.
Reports from around the country indicated that while factories were getting cows at the lower quotes, they were finding it more difficult to secure supplies of heifers and steers.
“This is a transparent attempt to panic farmers at a time when good grazing conditions and farmers busy at silage and hay is making cattle scarce,” claimed ICSA beef chairman Edmond Phelan.
He accepted that cattle numbers over the past month were higher than last year, but he claimed that supplies were swelled by stock from factory-owned feedlots.
“Good weather all across Europe is also positive for farmers as the barbeque season looks like driving beef demand upwards,” said Mr Phelan.