Weak export markets hit prices

Marts: Weaker markets for beef on the Continent, led to further downward pressure on prices at the factories yesterday, where the supply of cattle continues to exceed demand.

Producers suffered further losses as prices were reduced by up to 3c/kg (1p/lb) by a number of the processors as beef became more difficult to sell and prices eased on markets in Britain, Italy, France, Germany and the Netherlands over the past days.

Up to 289c/kg (103p/lb) was quoted for R grade animals — and a little more being paid — generally yesterday but some of the factories reduced the quotes to 286c/kg (102p/lb) and others advised suppliers that yesterday’s rates would not be guaranteed for the week.