"We are monitoring the prices available for finished cattle here and in the South of England, the region of GB with the lowest market returns," explained Union spokesman Joe McDonald.
"And the difference is staggering. We have worked out that over an average weekly kill, local farmers are getting almost £150 less for every finished animal they sell. As a result of this, we are challenging the meat plants to explain why cattle prices in Northern Ireland are up to 43 pence per kilogram less than in other parts of the UK."
Joe McDonald went on to point out that the Union has organised an open meeting for beef producers.
It will take place on Thursday evening of this week (November 27th) in Loughry College, Cookstown, at 8.00pm.
"We have invited NI Meat Exporters Association representatives to attend and explain to farmers why local beef prices are so low compared to other UK regions," continued the Union representative.
"Even compared to the lowest priced region of GB, Southern England, as quoted by the Livestock and Meat Commission, local farmers are currently almost £250,000 worse off each week by slaughtering their cattle in local meat plants."
UFU President Graham Furey said it is shocking to think that if local farmers had presented their steers, heifers and young bulls to meat plants in Southern England in recent weeks, they would have been more than £248,000 better off, even though the South of England is the lowest cattle price region in GB.
"Farmers in Northern Ireland should be paid a fair price for their cattle and this clearly is not happening. We are producing Farm Quality Assured beef to the same standards as GB and we are selling our beef into the same UK retail market," he concluded.
"The meat plants have a lot of explaining to do and I hope as many beef farmers as possible come to Loughry on Thursday evening so that the matter can be discussed openly with meat plant representatives".