Farmers strongly resist big price cut

CATTLE farmers have strongly resisted heavy cuts in beef prices by factories, which the farmers claim are not justified, with export markets remaining firm.

Reductions of 6 to 11 cents/kg (2 to 4p/lb) for cattle at the factories has been described by angry producers as an opportunistic act by processors, to increase their profit margins at the expense of farmers, taking advantage of the usual pattern of supply increasing in late October.

Farmers say there has been very little change in prices being paid for beef cattle in the UK, which is one of the principal markets for Irish beef, with up to 315 cents/kg (113p/lb) equivalent being paid for R4L bullocks last week, marginally down from previous weeks.