Farmers finally have a window into where beef prices should be as
Bord Bia’s beef price index goes live. The index, a commitment from the Beef Taskforce since the talks following the first protest in August, is being unveiled by Minister for Agriculture Michael Creed today (Thursday).
Farmers finally have a window into where beef prices should be as Bord Bia’s beef price index goes live.
The index, a commitment from the Beef Taskforce since the talks following the first protest in August, is being unveiled by Minister for Agriculture Michael Creed today (Thursday).
A range of charts will inform farmers as to how markets are performing. Irish prices will be tracked, while a second strand will show factory cattle prices in those countries that comprise our main export markets, accounting for about 90% of Irish exports. A third chart will track the value of the fifth quarter. The charts will updated weekly on the Bord Bia website.
The overall index, based on wholesale and retail prices in key markets, will be updated monthly. It comes as factories are finally lifting prices by 10c/kg to 15c/kg, following improvements in global cattle markets.
A Chinese bonus for in-spec cattle, already being paid by Foyle Meats, could be widely available over the next fortnight.
“The indices show that the beef market is improving,” said IFA president Joe Healy. “Farmers must get an immediate price increase.”
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