IFA: Livestock sector reeling from impact of Brexit vote

Livestock farmers are still reeling from the sustained drop in beef prices since this summer’s Brexit vote, said IFA national livestock chairman Angus Woods.

The national average factory price for steers stood at €4.20/kg for steers and €4.33 for heifers the week prior to the UK’s surprise June 24 referendum vote to leave the EU. Irish factory prices then fell 6-8c/kg most weeks, falling to €4/kg for steers and €4.10 for heifers by mid-July.

Average factory prices in Ireland are now around €3.70/kg. In the UK, the factories were paying the equivalent of €4.48/kg on average.