At the beef forum meeting last week, IFA president Joe Healy made it clear to Minister for Agriculture Michael Creed, and the forum, that the post-Brexit negativity and price cuts by the meat factories were excessive and undermining confidence in the sector.

Healy emphasised to the minister that to be effective, the beef forum has to work for the whole sector and that means it must deliver for farmers as well as for others.

The IFA president said the meat factories had overhyped the Brexit result and taken advantage of cattle price. He said beef industry commentators had suggested that the sterling devaluation was 16%, and some even went as far as 25%. “This was totally incorrect and the facts are the sterling adjustment is 7%. In addition, UK beef prices have increased by 10p/kg since Brexit.”

He said the increase in UK cattle price and the correct sterling adjustment would change UK returns by only 8c/kg and not the severe price cuts of 25/30c/kg factories have imposed.

Healy called on the factories to stop the negativity and the price cuts.