Beef prices increase 9 cent/kg

Marts: Beef prices increased sharply with returns to producers for bullocks and heifers rising an average of 9 cent/kg (3p/lb) last week as intake slumped to a monthly low.

The largest weekly price increase in months, confirmed in the official farmer pay-sheet payments to suppliers of cattle to the factories, has been pushed by the scarcity of cattle which worsened last week.

Intake of bullocks fell to 15,790 head - more than 30% down on the same week last year - leaving a deficit of almost 7,000 head on the intake for the same week in 2004. Total throughput for the week was 10,000 head less than the corresponding week last year at 32,634 head.