Stephen Cadogan: Cheap grain prices could backfire on Irish beef and dairy farmers

Teagasc has forecast a 5% to 10% decrease in 2024 harvest prices for Irish-grown grain, pulled down by falling world prices

We import about two thirds of our cereal requirements for both animal feed and human food, and the USA has traditionally been a major supplier to the Irish animal feed industry.

It's an ill wind that blows nobody any good, and the largest ever year-to-year hit on grain grower income in the USA will help to keep a lid on animal feed prices in Ireland this winter.

However, at the same time, the ups and downs of global grain markets could leave Irish consumers paying more for bread.