Bullock prices drop below 2006 level

Marts: Beef prices have slumped below 2006 level — for the first time this year — after the worst week for the dead trade in several months plunged finished into deeper losses.

Between 2 c/kg and 8 c/kg (1p — 3p/lb) was wiped off the average prices paid for R/O grades last week, while P grade prices were cut by up to 22 c/kg (8p/lb) at individual factories as the reduction hit hardest at the lower grading animals.

The average price for R4L bullocks — which earlier this year had a lead of 10 c/kg over 2006 prices — last week slipped 1 c/kg below the corresponding week last year. The average for R4L heifers dropped to 1 c/kg above the same week in 2006.