Factories have moved to try and pull base beef prices for steers and heifers back 5c/kg to €3.65/kg and €3.75/kg respectively. Their success is variable, with many sellers with greater negotiating power continuing to secure the higher base.

The latest price reduction has witnessed IFA president Joe Healy calling on Agriculture Minister Michael Creed to reconvene a meeting of the beef forum.

IFA livestock chair Angus Woods says there is room for Irish prices to improve.

“Irish cattle prices have fallen from a base of €4.10/kg to €4.20/kg (steers/heifers) in June (pre Brexit) to €3.65/kg to €3.75/kg. This is a reduction of 45c/kg or about €165 per head and has left beef farmers selling cattle in a serious loss-making situation,” Woods said.