ICSA president Edmond Phelan has welcomed the conclusion of beef sector negotiations, viewing the creation of a beef market index as a “very important outcome”.
He said that this index will provide “a lot more insight into whether the factories are paying the best price possible, given market conditions”.
The index will be linked to three elements; cattle prices in markets, beef price at retail and wholesale level and the fifth quarter.
Mr Phelan highlighted the fact that 8 extra cent, that was never previously available, has been secured for cattle over thirty months.
In addition, another 8c/kg will be paid for under thirty months in-spec cattle, bringing their bonus to 20c/kg. O- and 4+ categories will get an extra 12c/kg, having previously been ineligible for a QAS bonus.
It has also been confirmed that a regulator is being considered as part of the implementation of the EU directive on Unfair Trading Practices. The agreement has also confirmed that factory insurance is voluntary and has reduced the70 days residency requirement to 60 days on the last farm.
ICSA said it recognises the “tremendous sacrifices” made by protesting farmers. "The meat industry has been confronted with the reality that farmers cannot survive on current prices and farmers and their representatives have worked in a unified way to squeeze the maximum concessions out of meat factories, given the current market conditions.”
"In light of this agreement, ICSA is recommending that protests should now come to an end, so that farmers who need to sell cattle can do so," Phelan concluded.