While the current plight of the dairy industry has received much political attention here and in Brussels in recent months, the current margins in beef finishing are also grim.

Compared with the first quarter of 2015, the Ulster Farmers’ Union (UFU) has estimated that income in the beef sector is down £1m per week.

The last official DARD figures for the week ending 19 March show that the price paid for prime cattle is down by 40p/kg.

Across a prime kill of 6,310, and at the current average carcase weight of 343kg, it works into over £850,000 of reduced income.

Add in the cull cow trade, with prices down 18p/kg on the same period, and the total deficit in the sector is approaching £1m.

Producer confidence

Crosby Cleland, chair of the UFU beef and lamb committee, warned: “It’s no surprise that losses on this scale are undermining producer confidence and creating uncertainty about what the future holds for family farms.’’