Mr. Hugh Doyle:

If the beef industry is to survive, there must be forward contracts. At present, a poker game is being played and the beef farmer's cards are being shown to the other stakeholders. They can see what he has so he has no ability to bet forward. If the meat industry genuinely wants to hold on to the beef herd, it will have to be prepared to go back to the retailer. In the past ten years, our percentage of the retail price has halved and the percentage that the retailer receives has doubled. If one considers our inputs in the last ten years, one can imagine where our margin has gone. Deputy Fitzmaurice and the Chairman asked me about sustainability and the environment.