Beef premium overshoot averages €3,295 on 29,000 farms

THE beef premium overshoot will be 23% on the 21 month special beef premium and 27% on the 9 month premium and bull premium.

Individual farmers face premia cuts ranging from €53 to €78 per animal, in many cases more than their profit margin, according to IFA, which says Agriculture Minister Mary Coughlan and the Government must secure a solution to the cut of €95m in the 2004 premium payments to livestock farmers.

The cutback affects 29,000 farmers, facing an average penalty of €3,295, said IFA National Livestock Committee Chairman John Bryan.