Beef Scarce and prices rising Northern Ireland beef processing factories are facing a scarcity of finished cattle.
Further rises seem certain.
Buyers are also offering less harsh price reductions down the grades in some cases. According to the NBA, the imports which last year accounted for 22 per cent of UK beef consumption have reduced significantly because of the EU Purchase for Destruction Scheme having been introduced for cattle over 30 months. The NBA also believes that the under-pinning of beef prices in the Republic of Ireland by the Destruction Scheme can strengthen UK prices for months to come. Journal sources indicate that further strengthening of the Euro against the Sterling is having a significant effect, making it more expensive for NI processors to purchase beef from the Republic. The Foyle Foods group has been bringing in live cattle from Britain in a bid to meet orders.