Irish farmers could be entitled to payments in the region of €100 (£90) per head of cattle slaughtered due to Brexit and Covid-19 disruption.
An estimated 42,000 farmers will be eligible to apply to the €50 million (£45m) Beef Finisher Scheme, which will be based on the number of cattle sent for slaughter from February 1 to June 12, 2020, with a limit on 100 animals per herd.
The payment was announced in recognition of the negative impact Covid-19 had on Irish beef prices.
The Irish Farmers’ Association (IFA) said it was crucial the money gets out to farmers as soon as possible and that the full €50m was spent and the payment per animal should be increased if there was any underspend.
IFA national livestock chairman Brendan Golden encouraged farmers to apply once the scheme opens on August 19.
“It is expected the payment will be in the region of €100 per head. This will be a significant boost for the autumn cattle trade,” he said.
The Irish cattle trade was continuing to strengthen, with numbers expected to tighten in the coming weeks.