Supply tightens as prices rise 3c/kg

Marts: There have been further gains in beef prices at the factories as the supply tightens and processors come under more pressure to get cattle to supply orders.

The average price for R4L bullocks and heifers increased by 3c/kg (1p/lb), with O grade returns stronger by a similar margin as competition for cattle tightened.

Analysis of the returns show that the increase was mainly paid by the middle price range factories, with the top price down by 1c/kg for R4L bullocks and by 2c/kg for O4L bullocks, suggesting that processors are anxious to put a ceiling on the level to which the trade for bullocks rises. The top prices for heifers did show gains of 4c/kg for R4L and 2c/kg for O3 grade.