Coveney: Renewed optimism for beef

A renewed confidence in the beef sector is evident in livestock marts and in the prices farmers are getting for finished animals in the factories. That’s the latest analysis of Agriculture Minister Simon Coveney, who said he was very pleased to see the upturn in beef market conditions this year.

“Large numbers of farmers have applied for the Beef Data and Genomics Programme, which is now fully subscribed.

“There is no other country in Europe investing in suckler beef breeding at the same scale as in Ireland

“And I am excited about what this €300m investment can deliver on the ground for suckler farmers in the years ahead,” he said. Mr Coveney, speaking at Tullamore Show, said the softening of global dairy markets has had an impact on dairy farmers in Ireland and in the EU and the possibilities remain for this to continue.

“Farmers and other stakeholders are very much aware that price volatility will be a fact of life from now on, and have taken steps to cope with that volatility. In the short-to medium-term all stakeholders at national and EU level must together face and address challenges such as price volatility utilising all tools at our disposal.

“Taking a longer-term perspective, the future post-quota abolition is very positive and presents a significant opportunity for Irish dairy farmers. The long-term future global fundamentals for the dairy sector remain very positive, with increasing worldwide consumer demand.

“This is particularly so in the middle and the Far-East, where it is being driven by population growth as well as growth in the middle classes,” he said.