After a difficult weekend of negotiations, a “realistic and deliverable agreement has been reached, and will be recommended by all organisations”, according to the Irish Farmers’ Association (IFA).

In a statement, IFA president Joe Healy said: “During a difficult endgame to the talks, the farm organisations stood together to get the best available outcome for farmers.

Describing it as “far from a perfect deal”, the president said that while there are some aspects which will immediately make a difference, others will “require a lot of further work”.

Healy said the key elements of the agreement include additional bonuses for In spec cattle and cattle between 30 and 36 months.

As part of ensuring greater transparency, a Beef Price Index will be rolled out from next week to provide greater transparency on cattle prices.

Meanwhile, a Beef Market Task Force will be set up and independently chaired to oversee the implementation of all the elements in the agreement, with clear timelines and full stakeholder engagement, IFA livestock chair Angus Woods noted.

In addition, Bord Bia will further intensify promotional activity for Irish beef across key EU markets and China and develop a PGI (Protected Geographical Indicator) for Irish beef.

From a Department of Agriculture point of view, in advance of the implementation of a new EU regulation on price reporting across the EU, the department will provide additional detailed price reporting on the Beef PriceWatch app.

The department will report its carcass classification inspection results on a regular basis. An appeals system for manual grading factories is being introduced.

Meanwhile, Teagasc will review the hot/cold weighing system, the department will support the development of beef producer organisations and the department will continue to support the live export trade.