Farm Ireland
Independent.ie

Saturday 10 December 2016

'Goodman is using feedlots to manipulate beef market'

Published 09/11/2016 | 13:58

IFA members pictured at a protest last February in Bunclody, Co Wexford outside Slaney Meats
IFA members pictured at a protest last February in Bunclody, Co Wexford outside Slaney Meats

Tipperary TD Jackie Cahill told the Dail recently that Larry Goodman's interest in the Irish beef industry is growing

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Larry Goodman's ABP Group has a “monopoly interest” in the Irish beef industry and the recent decision by Brussels to allow the Group take a 50pc share in Slaney Meats is “inconceivable”, Cahill said.

“It is the view of the vast majority of farmers engaged in the beef industry that this group controls a monopoly interest in the industry as it stands but it has been permitted to take out one of the remaining independent players in the industry.”

Speaking in the Dail, he said that State had reneged on its responsibility and the decision was left to Brussels to make.

Jackie Cahill, Fianna Fail deputy for Tipperary at Leinster House yesterday.
Jackie Cahill, Fianna Fail deputy for Tipperary at Leinster House yesterday.

“Farmers cannot understand how this decision was made to allow Slaney Meats to be taken over by the ABP Group and why responsibility for the decision was relinquished to Brussels.”

He also said that the ABP Group is “taking over an increasing number of feed lots”, and is “releasing cattle from its own feed lots and manipulating the market to ensure there is no price surge” when cattle numbers are scarce.

He said that this happened last winter and prices remained static throughout the spring.

“There was no price lift for winter finishers. Unfortunately, winter finishers have taken so many batterings that they have no confidence to purchase stores, which is a huge contributory factor to the fall in store prices over the past month to six weeks.”

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Cahill also said that this was resulting in competition “being taken out of a trade that has been lacking in proper competition for a long number of years”.

“Cattle drops have dropped significantly over the past number of weeks. Live exports reduced by 58,000 head last year and it looks like they will reduce further this year while, at the same time, calf registrations increased by 132,000.”

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