Prices may settle at 90 to 94p per lb

THERE has been an deceleration in the downward slide in prices at the factories this week, with most of the processors quoting similar prices to last week for R and O grade animals.

A minority reduced prices for R and O animals by 3 cents/kg (1p/lb), but most of the price movement has been for U grade animals, which slipped by 3 to 6 cents/kg (1p to 2p/lb).

Supplies of cattle to the factories are continuing to increase every week, and bookings for this week were very strong at some of the factories on Monday and Tuesday. However, farming leaders who said the price cuts over the last month were not fully justified appear to have got their response, in the form of a slowing down in the price slide.