The leader of the Irish Cattle and Sheepfarmers' Association, Mr Malcolm Thompson, warned that he will urge farmers to cut beef production by 10 per cent next year if cattle prices do not improve.
Mr Thompson told his organisation's annual general meeting in Tullamore, Co Offaly, that it was time the meat factories woke up to the fact that "the game of exploitation is over".
"From next year, farmers will have options, and I believe that farmers will seriously have to look at the nuclear option of cutting production until such time as beef prices rise substantially.
"Let me put it this way - unless 2005 brings a substantial and sustained price rise, then I am certain that this time next year, ICSA will be urging all farmers to cut production by at least 10 per cent, either through planting the worst 10 per cent of the farm or by cutting back on stock numbers, becoming less intensive and joining REPs," he said.
He told the 200 delegates - representing the ICSA's 10,000 members who are mainly livestock farmers - that there was no point in keeping cattle for current prices. Mr Thompson said to consumers they needed to move away from the idea that healthy food was dear or inconvenient.
"We have been told for many years that the consumer is king. Well, if that's the case, then perhaps Mr Consumer it's time you started paying a realistic price for your food," he said.
"Irish farmers provide high quality food, healthy food, food fit for a king. But in return the consumer must be prepared to pay a fair price and be loyal to the farmers who went that extra mile to deliver not only good food, but to farm in harmony with nature, with the animals and with the landscape," said Mr Thompson.
He repeated the ICSA's position that Ireland should develop its green image by adopting a GM-free island strategy which would require close co-operation with the Northern authorities.