Strong supply of beef hit prices

Marts: Strong supplies of beef to the factories led to a weakening of 2 cent/kg (0.7p/lb) in the average prices paid to producers for last week’s kill.

For the first time in more than two months the national average paid for R4L bullocks and heifers slipped below 105p/lb - an average of 104.8p/lb being paid for bullocks and 104.9p/lb for heifers - with reductions of up to 1p/lb in the average for R4L bullocks at individual factories.

The pressure on price came as the intake of bullocks exceeded the same week last year by more than 2,800 head at 11,847 head compared to 9,008 for the corresponding week in 2004. Factory averages for R4L bullocks varied between 106.8p/lb at Euro Farm Foods, Duleek, Co Meath, and at Donegal Meats and 102.3p/lb (all VAT inclusive) at AIBP at Cahir, Co Tipperary. There was no R4L bullock price reported for AIBP at Bandon, but the average paid for R3 bullocks was 101p/lb. In all, just over one in three of the factories paid an average of 105p/lb or better.