The Agri-Food Regulator has secured agreement from the four largest beef processers to share weekly reported values for beef under three categories.
The four processors involved are ABP Food Group, Dawn Meats, Kepak, and Liffey Meats.
The methodology agreed between DAFM and the beef processors is to estimate the realised value accruing to processors from the sale of their output.
The regulator intends to publish weekly aggregate selling prices for the following three categories:
- Beef forequarter;
- Beef hindquarter;
- 5% fat content beef minced meat.
The Agri-Food Regulator has acknowledged that limitations of this process should be taken into consideration when interpreting the figures as the values provided represent selling prices and no costs are accounted for.
As well as this, the sale of beef as forequarter and hindquarter is not typical in Ireland.
The pricing Information published by the Agri Food Regulator for weeks 45, 46 and 47 is as follows:
Week commencing Beef forequarter (€/kg) Beef hindquarter (€/kg) Minced Beef 5%fat (€/kg) 11/11/2024 €4.86/kg €7.00/kg €8.53/kg 18/11/2024 €4.89/kg €7.00/kg €8.61/kg 25/11/2024 €4.89/kg €7.13/kg €8.67/kg
The method uses an average of the yield data for all bovine animals, captured by each processor from the previous year to weight the value of cuts produced from the carcass.
These weighted values are then reconstituted back into forequarter and hindquarter sections by each processor, as defined by a standardised cutting technique, to produce composite values for each section.
The standardised cutting technique used in this process is the ‘Italian Pistola Cut’. The main features of this cut are that it maximises yield and value by separating high-value muscles and emphasises premium cuts, according to the regulator.
A weighting based on the previous year’s national kill is applied to the submitted values to create a single weighted average value for each of the three reported prices. These weekly weighted average values are then reported to the EU.
This method was selected to satisfy the requirement of the European Regulation with a view to realising the value accruing to processors with different customer bases and final demands.