Producers maintain price resistance

Marts: Producers with R grade cattle to sell are strongly resisting factory price cuts and processors are paying significantly more than the quoted prices for their supplies.

Heifers are continuing to lead the market, although the average margin for R grade over the bullocks has eased to 4c/kg.

Price reductions are being more severely applied to O grade stock, with the average O grade price paid for heifers and bullocks in last week’s kill down by up to 4c/kg (more than 1p/lb).