Declining beef prices cannot be accepted
THE LATEST Beef Market Tracker has shown that prices in key export markets for Ireland remain strong and steady, growing by one cent per kilogramme in the last week.
IFA Livestock Chairman Brendan Golden said that these developments and the most recent market information available show that meat factories cannot justify continually dropping prices. He drew particular attention to the Prime Export Benchmark compiled by Bord Bia, which shows strengthening prices in key markets. He added that cattle numbers are tight, and demand for beef among supermarkets is strong, so moves to reduce prices have been greeted angrily by farmers.
“In our meeting with MII earlier this week, we left the industry representative body in doubt that this approach by factories is unacceptable,” Mr Golden said.
Mr Golden said, despite some factories quoting lower, base prices of €3.75 and €3.80 per kilogramme have been paid by factories this week for suitable bullocks and heifers.
He said farmers should reject the lower quoted prices.
AS COVID-19 cases remain high throughout the country and Level Five restrictions remain in place, online marts continue to play a crucial role in sustaining farming life.
Building on experience from previous lockdowns, marts will continue to operate the dropand-go systems that were introduced so successfully during 2020.
Farmers and dealers will only be able to buy stock via online sales platforms.
Tomás O’Neill from Mallow Credit Union, speaking on behalf of Cultivate, commented, “Trading of cattle peaks in the spring and autumn.
“We have members of our Credit Union who use the Cultivate working capital facility for stock loans.
“Our members find this a suitable way to finance the purchase of stock for their cattle enterprise.
“Quick turnaround and ease of access are two of the reasons farmers are choosing Cultivate loans,” he added.
While many sectors have been suspended due to COVID-19, agriculture has shown an ability to adapt, and the integration of online marts into their ways of working have facilitated continued trade.
As spring calving gets underway, there is expected to be a large volume of calves to be sold through marts in the coming weeks and months so systems and processes will be tested.
Along with calves there will be a very significant trade in store cattle for farmers who purchase cattle for summer grazing.
Tomás O Neill commented further on the ability of farmers to continue to work through the COVID-19 pandemic,
“Farming is an essential service, and it is a testament to the farmers in County Cork and Limerick who have continued to work through this very difficult time.
“We provide loans that are specifically tailored for farmers who are looking to develop their farm, purchase stock or obtain working capital.
“We want to play our part in helping farmers in across North Cork and West Limerick to navigate these difficult times.”
For more information, visit www.cultivate-cu.ie / www. mallowcu.ie or call into your nearest Mallow Credit Union branch.