ICMSA expects positive year for Irish beef in 2007

IRELAND - The prospects for the beef sector in 2007 are positive and farmers can expect strong prices for their cattle throughout the year, according to Mr Martin McMahon, Chairperson of ICMSA’s Beef and Cattle Committee.
calendar icon 8 February 2007
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The Beef Chairman said that the clear message coming from the An Bord Bia Meat Seminar was that the fundamentals of the beef market were positive and that this should translate into good prices for farmers in 2007. Among the key factors that would impact on the market, Mr McMahon noted the following: The EU beef deficit continued to widen putting upward pressure on beef prices; Cattle supplies in Ireland were expected to tighten about 5 per cent which should lead to greater competition between factories for cattle.

There could be 100,000 less cattle slaughtered in Ireland this year so this should help to keep beef prices up; it would be May/June, at the earliest, before all States in Brazil would be able to export into the EU; the live export trade was expected to be steady during 2007 and would maintain competition for calves and weanlings.

“Given the increased costs on beef and cattle producers, ICMSA feels that it is absolutely essential that the meat processors pass back in full the benefits of the improved market situation to beef farmers. Beef producers are committed to the sector and they are demonstrating that commitment through their increased participation in the Beef Quality Assurance Scheme. “Unless farmers see their fair share of the improved returns, that commitment might fall back,” said Mr McMahon.

Source: Roscommon Herald

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