Beef exports show slight increase

TOTAL throughput at the beef export plants for the first four months is showing a slight increase, mainly due to an increase in the supply of young bulls and cows, which offset lower supplies of bullocks.

Despite a positive start to the year for bullocks, week-on-week prices are 5% lower than this time last year, with year-to-date averages on par with 2006 for R grade and 1% lower for O grade animals. Heifer prices are almost 3% lower than the same week last year with the average year-to-date showing a gain of 1% for R grade, while O grade prices are on par with 2006.

Bullock supplies suffered the largest decline, at 6% less than 2006. A total of 242,860 head were supplied, down 15,000 head on last year. Tighter supplies usually deliver higher prices, but the lower intake has not triggered better returns this year with market difficulties — including lower sales to Russia — undermining the trade.