Beef price growth slows to a trickle

Marts: The upward trend in beef prices slowed to a trickle, despite a tightening in the supply of cattle to the factories last week, indicating resistance by the processors to the upward spiral in return to producers.

The slight increase in the average paid for R4L bullocks to just over 105p/lb was more attributable to smaller processors paying better prices for stock than the increase from the major players in the market. The average for R4L heifers was slightly stronger than the bullocks at 105.4p/lb.

The total intake at the factories was down 1,600 head at 32,222 with 1,300 of the decline accounted for by the drop in the supply of bullocks to 14,562 head. The indications are that the supply tightened further this week.