The total number of animals recorded by my Department as being applied upon to-date in 1997 in respect of ten month special beef premium is some 734,000 head. As the quota for 1997 is 1,002,458 quota rights, the balance remaining up to 5 December next, (when applications close for the year) is some 268,000 quota rights.
In view of the fact that 620,000 male calves are registered as having been born between 1 January 1997 and 5 April 1997, and thus eligible for submission for the ten month special beef premium in 1997, there is a possibility that the quota will be exceeded in 1997. The implications are a reduction in payments to all applicants who have submitted any claims for special beef premium, both for ten and 22 month instalments, by the percentage by which the quota is exceeded. Extensification premia payments, where due, will attract a similar reduction. In addition, balancing payments for both ten and 22 month premia may only issue after the finalisation of all 1997 ten month applications.
It is difficult for me to advise producers regarding the appropriate course of action which, of course, will vary with their individual circumstances.