P grade bullocks up more than 16%

The number of bullocks falling into the low priced P grade has increased by more than 16% over the past two years, adding to the concern of producers following this week’s reduction in prices being offered by the factories.

Most of the factories reduced quoted prices for P grade stock to around 252c/kg, inflicting a very severe cut — one of the largest ever in one week in the history of the beef trade.

The factories had been paying up to 280c/kg for P grade bullocks in recent weeks — and for heifers, although the number of heifers falling into P grade is quite low.