Factory beef price increases slow

MARTS: The pace of increase in beef prices at the factories has slowed down, although the supply of finished cattle has dropped again, with intake well under that of a year ago.

Farmer pay sheet returns from the processors show the national average price paid for R4L bullocks and heifers improved by two cents/kg last week down from a gain of 6c/kg achieved the previous week. All of the major processing groups paid averages below the national figure, a first indication of stronger resistance to the higher cost of cattle which has been pushed by scarcity.

A national average of 91.5c/lb was paid for R4L bullocks, while R4L heifers averaged 92.3c/lb. Prices paid for O4L bullocks averaged 88c/lb with similar grade heifers slightly weaker at an average of 87.5c/lb.