Meat industry concern over market situation facing into new year

MEAT processors have claimed the gravity of the ongoing difficult market conditions for Irish beef does not seem to be reflected in recent trade comment and forecasts.

Meat Industry Ireland (MII), their representative body, said although Irish cattle prices in December continued to be 10% above the same month last year, it was extremely concerned about the market situation facing into 2009.

MII director Cormac Healy said it believes a combination of factors, largely outside the processing sector’s control, will have a severe negative impact on the beef export trade over the coming months.