Farmers reassured by beef price, despite UK vote

Irish beef farmers are not phased by currency speculation following the Brexit vote as the sterling-euro rate has remained relatively stable, said ICSA beef chairman Edmond Phelan.

As beef exports to the UK are based upon the sterling-euro rate, beef farmers are not impacted by pound-dollar concerns.

While the pound hovered above $1.33 for most of Tuesday, analysts vary hugely on their dollar-pound projections, the most extreme being that sterling could fall to parity with the dollar by the end of 2016.