Beef premium penalty will cost livestock farmers €2,760 each

THE beef premium overshoot will cost 29,000 livestock farmers an average bill of €2,760 each, unless Agriculture Minister Mary Coughlan succeeds in her aim to negotiate a solution at EU level, according to IFA.

According to IFA National Livestock Chairman, John Bryan, the overshoot penalty would reduce the first stage beef premium by 27% and the second stage premium by 23%.

“These reductions involve cuts of €62 per head on the 9 month premium, €78 on bull premium and €53 on the 21 month premium with extensification premium.”