Beef exports are slipping, prime cuts are no longer commanding the premiums they once did, and with no clear signal on where the market is heading next, uncertainty is growing for farmers.

But one thing is certain according to the industry group that represents 28 of Ireland’s major beef, pork and lamb processors - "it is not in anyone's interests to see beef price go down the way it has in the last couple of weeks".

Dale Crammond, director of Meat Industry Ireland (MII), also said it is "very difficult" to predict where the market is heading and much will depend on whether there is any "buoyancy" in the second half of the year.

Crammond was before a lively meeting of the Oireachtas Joint Committee on Agriculture and Food to discuss the reduction in cattle killed and prices. 

He warned that the market is currently "very transient" and that it revolves around a supply and demand issue.

Committee members heard that the Irish beef sector is export-led, with 90% of production sold in international markets.

According to Crammond it is vital that the country now focuses on "brand Ireland and Irish beef" and captialises on the "positive sentiment" that exists despite a cost of living crisis in key markets like the UK.

Traditionally Irish beef exports accounted for 80% of UK beef imports but more competition from Australia, New Zealand, Poland and Brazil combined with the fact that consumers have traded down "to cheaper proteins" has seen a worrying shift in that market.

But it is not just the UK which is challenging for Irish beef exports at this time, European markets have also declined substantially and quickly in some instances and this trend is directly linked to consumer demand.

One of MII's key messages to TDs and senators was that the "supply chain is not functioning" in Ireland currently and "volatility is acutely extreme".

It outlined that the processing sector is currently working at 80% capacity but normally at this time of year it would be working at full capacity.

As a result there is "not a cold store in the country" where there is capacity to put processed product in - this according to MII is because the "contracts are not there at the moment".

MII detailed that contracts are not at the level where they would normally be, because Irish exports have "dropped 10%" going into the UK.

TDs and senators stressed to the MII representatives at the commiteee meeting that farmers are now at "their wits' end" about the pressures they face and the prices that factories are paying.