Factories pay average of 1p/lb more for beef

Marts: Beef prices paid by the factories improved by an average of 1p/lb last week, an increase of more than 1.5p/lb recorded at individual factories for both bullocks and heifers.

The supply of bullocks was down 2,600 head on the previous week, as producers waited for the completion of retention, with the tighter supply having a big influence in achieving the higher prices at the factories.

The national average for R3 bullocks increased by 1p/lb to 88.5p/lb. Carrigans were the leaders in the field, paying an average of just over 93p/lb. Duffy’s of Gort and Newgrange Meats at Navan both paid an average of 90p/lb. AIBP factories at Nenagh and Cahir, Liffey Meats at Ballyjamesduff and Exel Meats at Kilbeggan all paid between 89.3p/lb and 89.6p/lb.

AIBP Group paid an average of 1p/lb more for R3 bullocks at a group average of 88.5p/lb on par with the national average. Within the group the average paid at Nenagh and Rathkeale each increased by an average of 1.5p/lb. Prices at Cahir were up by an average of 1.3p/lb and at Waterford 1p/lb more on average was paid. Prices paid in the Dawn Group increased by just under 1p/lb and the improvement was similar within the Kepak Group.

The lowest factory average nationally for R3 bullocks was 86.5p/lb.

An average of 84p/lb was paid nationally for O3 bullocks, with Duffy’s of Gort paying the highest average at over 88p/lb.

Heifer prices were marginally stronger than the bullocks with a national average of 89p/lb being paid. Kepak at Clonee, Slaney Meats at Bunclody, AIBP at Nenagh, Liffey Meats at Ballyjamesduff, Meadow Meats at Rathdowney and Exel Meats at Kilbeggan all paid an average of 90p/lb. Prices for O3 heifers averaged 84p/lb.

Kepak at Clonee paid the highest price for cows at 76p/lb for R4L and P+4L grades.