Brexit bill for beef producers: €4000-5000 a year
In a worst-case Brexit scenario , income on Irish cattle-rearing firms could fall by 37% or €4000-5000 a year. Worst case means UK-EU trade based on World Trade Organisation tariffs, according to the Teagasc (Irish Agriculture and Food Development Authority) outlook for 2017, but exchange rate volatility and reductions in CAP payments must also be considered. Beef farms would be hardest hit because of their dependence on the British market. Most dairy farms are vulnerable to beef market movements and average dairy income could fall by 20% (€13,000) as cattle prices fell. Sheep farmers could face a 21% (€7000) hit because they tend to also farm beef cattle.