Ireland one of few selling cattle at a loss

Ireland is one of the few major beef-producing regions where cattle are being sold at a loss, says ICMSA livestock committee chairman, Michael Guinan.

He said world beef-market recovery is reflected in a huge price jump in the US, where farmers got 207 cent per kg in January, 2010, and now receive 433 cent per kilo, for an R3 steer.

He said the US price is now 82 cent a kilo ahead of the EU price, and the gap between Irish and UK beef prices stands at 87 cents a kg, equating to €300 per head for the average R3 steer.