Up to 99 as factories vie for supply

THE beef trade is turning into a sellers’ market, approaching the best that farmers have experienced since the mid nineties, as prices at the factories continue to harden.

Competition for cattle continues to intensify between factories due to the scarcity of finished cattle and price has now become the determining factor as to which processor gets the available cattle.

In another week of heated trade, prices on offer for beef increased by 3 to 6 cent/kg (1p to 2p/lb), and the price clock is ticking quickly towards delivering 100p/lb, with 277 cents/kg (99p/lb) quoted this week for U grade cattle, and some reports of close to that being secured for mixes of good quality U and R grade cattle.