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Time Is Right For Beef Prices To Rise

14 October 2010

UK - Following a sustained fall in beef prices during 2010, the Ulster Farmers’ Union (UFU) says the conditions are now in place for a long overdue increase in the farm gate prices paid to local producers.

UFU Beef and Lamb Chairman Ray Elkin said; “Over the past year the UFU have been very disappointed with beef prices and we have been committed to lobbying on behalf of our members for an increase.

The decline in beef price has left many producers operating below the cost of production, and fears have been mounting that production costs will continue to escalate on the back of rising feed and bedding costs as we enter the winter period.

However, I have been encouraged by recent market trends which are showing signs that beef prices are beginning to recover. In light of this, I would encourage producers to hold firm when negotiating a price.”

The Livestock and Meat Commission (LMC) recently reported that a seasonal recovery in beef demand was underway, with the UK retail price of beef up three per cent and consumer expenditure on beef up four per cent for the four week period ending September 5th, compared to the same period last year.

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