Supplies of bullocks increases

Marts: Supplies of bullocks to the factories have shown the first significant increase in more than five weeks, leading to increased speculation that prices at the processors will come under downward pressure if the upward trend in supply is continued for another week.

Some of the processors reported stronger supplies yesterday, but the producers were quick to stress that this is a ploy to pull out more cattle. IFA Livestock Chairman, John Bryan said that there is no basis for any reduction in prices and despite factories attempts to pull back, prices are being maintained at up to 96p-94p/lb for R/O grades, and producers should resist any cut.

There were some variations in the price trend across the country yesterday. Some of the processors increased their quotes for R grade animals by up to 1p/lb, while prices were unchanged at most of the factories, and a few cut back by 1p/lb.