Upward trend in prices continues

Marts: An increase in the supply of cattle to the factories has not been sufficient to dampen the upward trend in prices which are showing further gains with up to 6c/kg (2p/lb) more being offered for stock yesterday.

Prices at the southern based factories made the strongest gains yesterday — while the midland-based plants were showing more resistance to paying more for stock — narrowing the margin of difference between prices on offer for cattle. This indicates an increase in the resistance from the processors.

Up to 344c/kg (123p/lb) is being secured by producers in the south for R grade bullocks, while the plants in the midlands are showing resistance to paying much more than that for similar grade cattle. But prices being reported from the east of the country have edged 3c/kg (1p/lb) ahead. The northwest continues to lead the country with quality lots making 347-350c/kg (124-125p/lb).