It is being used exclusively for calculation purposes. He said significant outlets for beef will have to re-emerge in Europe and third world countries in order to have an autumn price of 80p per pound or higher. An autumn dependent on intervention could force prices into the low 70s. A special computer programme has been developed by Teagasc which will help farmers establish what they can afford to pay for stores. By inputting the farmer's own information on expected weight gain, costs, premium eligibility and target profit, Teagasc advisers can provide a guide store price based on beef prices ranging from 70p to 85p per pound next autumn.
Farmers can also pick their own autumn beef price.
The exercise can be completed in less than five minutes over the phone with the local Teagasc adviser.