Beef trade shows signs of slipping

Marts: A strong supply of finished cattle for the factories is being met with a lowering in prices as the trade shows the first signs of slipping into a decline.

Most factories quoted prices back three cent/kg (1p/lb) for all grades of beef cattle yesterday - and some of the processors would not guarantee yesterday’s prices for the remainder of the week - while cow prices stabilised at last week’s level following the recent tumble in prices.

Up to 289 cent/kg (103p/lb) was being quoted for R grade cattle at the factories yesterday, but a more general price ranged 286-280 cent/kg (102p-100p/lb) most of the prices having dropped three cent/kg (1p/lb). Prices offered for O grades are ranging 280-274c/kg (100p-98p/lb) although up to 286c/kg (102p/lb) is being secured in deals with some of the factories.