Beef-price decline at factories halts

Marts: A turnaround in beef prices at the factories has been confirmed with a majority of processing centres paying more for cattle last week.

After two months of downward pressure on beef prices, there is a reversal in the pattern, with prices for R4L bullocks rising an average of 3 cents/kg (1p/lb) and prices at factories showing improvements of 6-9 cents/kg (2p-3p/lb) while almost half of the plants increased prices paid by 3 cents/kg (1p/lb) or more.

The improvement has been influenced by a further reduction in cattle supply, with throughput at factories dropping by 3,300 head to a total of 25,238 head last week, more than 5,000 head less than the same week last year. The supply of bullocks was down 1,400 head at 11,930, which was 3,600 head less than the corresponding week in 2005.

Farmer pay-sheet returns show that the national average for R4L bullocks last week was just short of 101p/lb, with a top price of 103.4p/lb at Euro Farm Foods, Duleek. Moyvalley Meats, Broadford, Co Kildare paid 3p/lb more for R4L bullocks at an average of 102p/lb, while prices at AIBP (Waterford) were 2p/lb stronger at 101p/lb and Dun Bia (Exel) at Kilbeggan also paid 2p/lb more, averaging 102p/lb.

One third of the factories paid 101p/lg or better with three quarters of operating plants paying 100p/lb or better. Strongest resistance came from AIBP factories at Cahir, Nenagh and Rathkeale where prices fell by an average of 0.5p/lb.

The average for O4L bullocks was just short of 97p/lb. The national average for R4L heifers was down 2 cents/kg at 101p/lb, while O3 prices increased by 3 cents/kg (1p/lb) at 96.6p/lb.

Cow prices increased by 3p/lb for R’s near 91p/lb at Euro and O/P grades were up 2p/lb at almost 86p/lb at Dun Bia (Exel), Kilbeggan.