Moderate increase in beef prices forecast for year ahead

The economic outlook for 2012 is generally positive, reports IFA chief economist Rowena Dwyer

FARM incomes saw a continued recovery during 2011, with price and volume increases in almost all commodities, a trend partially offset by rising input costs.

Internationally, prices in many commodities have begun to ease back from their peak in 2011. This is expected to continue into early 2012. However, any price decline is projected to be moderate, with a potential return to price increases during 2012.