Beef prices continue upward spiral

Marts: Beef prices have continued the upward spiral adding a further 3 cents/kg (1p/lb) to pay a top price of 102p/lb for R3 grade bullocks last week.

Almost two-thirds of the factories paid an average of 97p/lb or better for R3 bullocks for last week’s kill, an improvement of 1p/lb, as the rate of increase in prices accelerated, driven by scarce supplies and strong demand.

Of the major processing chains, AIBP and Kepak paid an average of 1p/lb more for R3 bullocks, and Dawn Group paid just short of 1p/lb more than the previous week. most of the factories within each of the groups have now slipped to the lower half of the league on price with AIBP and Dawn Groups paying less than the national average.