Jitters after OTM ends in UK

UNCERTAINTY caused by the ending of the Over Thirty Months Scheme in the UK led to downward pressure on prices at Irish beef factories this week.

The OTM scheme is replaced by the Older Cattle Disposal Scheme - restricted to animals born before August 1996 - potentially flooding the UK market with an extra 4,000 tonnes of cow beef per week.

The wholesale trade in Britain had been exercising caution last week and showing nervousness about holding large stocks of beef ahead of the ending of the OTM Scheme last weekend, unsure as to the immediate effect it would have on supplies.