Drop in price of beef continues

Marts: The downward slide in beef prices is continuing at a fast rate with a further 1p-2p/lb knocked off returns to producers who supplied cattle to the factories last week.

The drop in price was across all grades and all locations with the weekly drop in prices for beef continuing at twice to three times the rate at which the returns to the producers increased earlier in the year.

Returns from the factories show that the national average for R3 bullocks dropped by 1.5p/lb to 96p/lb for last week’s kill and the average for R3 heifers was down by nearly 2p/lb at just over 96p/lb being paid.