Independent consultants will undertake a review of on-farm market valuation (OFMV), which determines the compensation paid for cattle lost to TB.
According to the Irish Cattle and Sheep Farmers’ Association, professional services firm Grant Thornton will conduct the review.
Among the issues that will be tackled by the review is whether the weekly Summary of Market Prices (SMP) is an accurate reflection of the market.
It will also examine whether independent valuers can provide prices for reactor animals that are in line with market values without “undue interference”.
Hugh Farrell, the ICSA’s animal health and welfare chairperson welcomed the review of the On-Farm Market Valuation.