EU takes measures to boost Irish cattle prices

The European Union has agreed to buy almost 800 tonnes of Irish beef into intervention to offset the drastic fall in cattle prices experienced in recent months.

A further 5,420 tonnes of beef will be removed from the market under the EU’s Special Purchase Scheme.

The ICMSA and the IFA had warned that as many as 10,000 farmers were facing bankruptcy because cattle prices have fallen to as low as 75p per pound.

However, the Department of Agriculture has said that he removal of so much produce from the market should push prices back up to an acceptable level.