ICSA Beef chair Edmund Graham has said soundings of factories pulling beef prices next week have infuriated farmers who are still producing at below the cost of production. "Prices need to go up, not down. The goal should be to get prices to at least the Teagasc cost of production figure of €6/kg, not drive prices down to even more unsustainable levels," he said.

"After feeding intensively for the last three to four months farmers needed to see prices rising. However, despite assurances at the back end of last year that we would be adequately rewarded when we go to sell, we have actually seen the opposite happen and prices now are just about back at December 2022 levels. It is a desperate situation when you consider that the beef farmer is the one bearing all of the risk."

Mr Graham also questioned the continued price gap between Irish and UK prices. "A significant differential has opened up between Irish and UK steers prices in recent weeks, with UK prices about 33c/kg higher (VAT exclusive) at the moment. In the past three months, UK steer price has increased steadily by 35c/kg whereas our price has stagnated." 

"This week has seen a concerted Irish presence at the SIAL trade show in Shanghai and it is vital that business done at this show translates into better prices for farmers."

"Processors need give their suppliers some real clarity around what is going on with beef prices; we are all tired of the conveyor belt of vague excuses they roll out as they slash prices - all of which have a very clear impact on farmers' livelihoods and their very ability to stay going."