The national livestock chairperson of the Irish Farmers' Association (IFA) has said there is "no justification for undermining beef prices".

Declan Hanrahan said that Irish beef prices are lagging behind both the EU and UK prices by up to 20c/kg.

According to Hanrahan, supplies continue to tighten in both those markets for Irish beef, and prices have steadily increased since the beginning of February.

He said that this has pushed the Prime Export Benchmark Price 10c/kg above prices offered in Ireland, with this gap "widening".

"Attempts by factories here to reduce prices are completely at odds with reality of the marketplace and direction of travel of UK and EU beef prices," he said.

Hanrahan claimed: "The behaviour of factories here in attempting to undermine the market and cut prices for winter finishers is nothing short of opportunism and profiteering off the back of farmers who have made enormous investments in buying and feeding cattle to have ready for this time of year."

According to the IFA, demand for beef is strong, supplies are "extremely tight" in Irish export markets, and prices there are strengthening.

"Farmers should push back strongly on the unjustified attempts by factories and their agents to undermine the trade," Hanrahan said.

He called on factories to "stop the gamesmanship and start returning the full value of the marketplace in beef prices".

"There is no justification in our prices dropping while UK and EU beef prices increase," the IFA livestock chair added.

Angus breed bonus

In other beef price news, Certified Irish Angus Producer Group has confirmed that a restructuring of the Angus factory breed bonus paid to farmers is set to be implemented in September this year.

The producer group, which works with both ABP Food Group and Kepak, has announced details of the new bonus payment structure for its farmer members.

The current breed bonus payment system involves farmers being paid a premium, generally ranging from 10-30c/kg depending on the time of year, for in-spec Angus heifers and steers.

Under the new system, members will be eligible for a bonus of up to 20c/kg, however, this will be split into three eligibility areas.