Protests at meat processing plants will be suspended pending talks, the Agriculture Minister has confirmed.
Threatened legal proceedings by the industry against protesters will also be suspended.
Beef farmers have been picketing outside meat factories for 12 days, protesting over the prices they are getting for their animals.
The Beef Plan Movement, which is behind the action, has warned that the prices farmers are offered do not reflect the importance of their place on the production line.
Meat factories, meanwhile, temporarily laid off several hundred staff while the protests continued.
The industry umbrella body Meat Industry Ireland (MII) said businesses would take legal action in a bid to halt the demonstrations.
Amid the escalating tensions, a number of groups had called on Agriculture Minister Michael Creed to intervene in the dispute.
This evening, Minister Creed said both sides have accepted "compromise proposals" aimed at breaking the ongoing impasse.
A spokesperson for his department said: "All protests at meat processing plants and legal proceedings are to be suspended with immediate effect until the agreed talks have concluded.
"A meeting will be held on Monday August 12th involving both MII and the Beef Plan Movement and also including representatives from the farm organisations, the Department and its agencies."
An independent chair will be appointed for the talks, and will preside over an "agreed agenda".
Meat Industry Ireland welcomed the development.
In a statement, the group said: "These protests had brought beef processing to a virtual standstill in the country, causing significant disruption in the beef trade and also led to temporary staff layoffs.
"Real damage has been done to domestic and export business as a result of these protests and it is high time for the sector to get back to business. Processing needs to take place if we are to avoid losing more customers for Irish beef and lamb."
