Supply of bullocks plummets

Marts: The supply of bullocks to factories has dropped by over 30% in a single-week landslide, as producers showed the strongest resistance ever to lower prices by cutting the flow of cattle.

Although the downward pressure on prices eased, intake at the factories fell by 8,000 head, starving the factories of supplies and leaving the processors with no choice but to restore prices.

In an almost unprecedented landslide in supply, the intake of bullocks dropped 6,000 head — a decline of more than 30% — while the overall kill fell by 8,000 head to 29,602. The impact of producer resistance was less severe for heifers — down 1,100 head — reflecting the higher prices available for females.