There are no plans for the Beef Market Taskforce to meet in the immediate future, as COVID-19 restrictions continue to hamper the industry.

Turmoil in the beef trade has seen the steer and heifer base quote fall by 10c/kg this week to €3.40/kg.

The taskforce had been due to meet last month to discuss retailers beef specifications. However, this meeting was deferred to a later date. In a statement, the Department of Agriculture announced an alternative date will be scheduled as soon as conditions allow.

In the interim, there has been ongoing contact between the Department, farm organisations and industry stakeholders about market developments resulting from the pandemic.

Update

The Department also intends to provide taskforce members, which includes six farm organisations, Bord Bia, Teagasc, and Meat Industry Ireland, with a written update as soon as is practical.

Currently, the focus of the taskforce are two market transparency studies being carried out by Grant Thornton. The studies are focused on the of the four in-spec bonus criteria to market requirements and an analysis of the total value of an animal, including the fifth quarter, along the supply chain.

Progress on this front will be included in the next taskforce update.

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