IFA: Meat factory price cuts are opportunistic

Meat factories are unfairly pulling beef price quotes on the back of the referendum result, even though they are hedged against currency volatility, said IFA livestock chairman Angus Woods.

Speaking at the Beef 2016 forum in Teagasc Grange, Co Meath, Mr Woods said demand for beef from UK supermarkets is strong, with prices up 2p/kg in the past week as UK numbers of finished prime cattle remain tight, while the weekly kill in Ireland dropped.

“Farmers should strongly resist the factories’ price cuts, which are unjustified,” he said.