The initiative was launched last month and aims to help address generational renewal on beef farms in Ireland.

As farmers in Ireland know all to well, there are a range of complex issues associated with generational renewal in Irish farming and there are not enough young farmers setting up farm enterprises.

One of the many hurdles faced by young beef farmers in setting up their business is getting access to the funds required to initially buy cattle.

This has become even more challenging this year with the significant increase in the cost of cattle seen in recent months.

As part of the ABP Advantage Beef Programme, the ABP Young Farmer Academy aims to address generational renewal by supporting young farmers through a combination of financial backing and technical advice.

The ABP initiative is essentially an interest-free young farmer stocking loan.

It is available to members of the Young Farmer Academy, which is open to farmers aged 35 and under.

The initiative offers participation in a five-year programme that includes:

ABP financing the calf purchase;
Interim payments to aid cashflow;
Finishing bonuses;
Access to dedicated advice and support from the ABP Advantage Beef Programme farm liaison team.

The ABP Young Farmer Academy also has support mechanisms for young farmers involved in suckler-beef production.

Young farmers accepted into the scheme have the option of ABP covering the cost of buying-in their dairy-beef calves with the agreement that these calves will be sold to an ABP factory on reaching slaughter specification as beef cattle.

To assist with cashflow, ABP will also issue an 'interim payment' to these young farmers - generally after the first year - to assist with cashflow for the enterprise.

To support young farmers, a safety net on base price is available and farmers will secure the 20c/kg advantage bonus on all eligible cattle as well as any other available price bonuses.

The calf purchase price and interim payment will be deducted from the final payment for the cattle at slaughter.

Young farmers will also have access to dedicated advice and support from the ABP Advantage farm liaison team.

While the processor-led initiative may not suit all young beef farmers, it can be seen as a positive step from the industry and is an example of a factory 'putting its money where its mouth is' in supporting young farmers to get a beef enterprise established.