Low beef supply stalls price decline
Bullock supplies to the factories were down by 1,200 head last week with a kill of 22,900 head, dropping under the throughput for the corresponding week in 2002, as the rising trend of previous weeks was reversed.
Enquiries to factories were lighter than normal yesterday, indicating that recovery in the supply is unlikely this week.
The result has been factories have held their prices for R grade at 229 cents/kg (82p/lb), with O grades being quoted at 218 cents/kg (78p/lb) an improvement of 6 cents/kg (2p/lb) at some factories and steady at last week prices for the remainder of the factories.
Supplies last week may have been affected in the southern half of the country by farmers taking a break at the Listowel Races.
This week’s supply was expected to be down because of the traditional pattern of farmers taking time out for the National Ploughing Championships which opens in Co Meath this morning.
Some procurement managers confirmed yesterday they will not pay over the quoted prices this week to get cattle, because demand is not hectic and expect supplies to increase next week.
There has been some increase in the number of overage cattle showing up at the factories, but so far suppliers are not being penalised other than for the cost of the BSE testing at 20/head.
Cow prices at the factories continue unchanged ranging 176-168 cents/kg (63p-60p/lb) with supplies continuing around 7,000 head per week.
