The IFA has calculated that the losses being incurred by beef finishers in 2020 are in the region of €111m based on beef prices between 1 January 2020 and 17 May 2020.

Some €89.9m of this related to Brexit and €21.2m related to COVID-19 market disturbance.

Without a direct payment to make up for these price losses, many winter finishers will not survive after this spring

IFA livestock chair Brendan Golden said the figures show winter finishers selling cattle have taken a beef price battering in the order of €200 per head, when compared to the pre-Brexit and pre-COVID prices.

“Without a direct payment to make up for these price losses, many winter finishers will not survive after this spring,” he said, adding that Minister for Agriculture Michael Creed must secure a direct payment package.