No recovery in beef prices by year end

Marts: Beef prices are set to end the year without recovering from the drop which coincided with the late autumn surge in supplies which almost cancelled out the benefit of the Slaughter Premium for producers who sold since mid-November.

There was a very slight improvement in average prices paid by the factories last week but the wide variation between the factories was almost similar to the previous week.

The difference between the price paid for R3 and O4H grades ranged from 11 cents/kg to 29 cents/kg with the majority of the factories failing to achieve the 24 cents/kg between these grades set out under the new price grid formulated by the IMA, further confirming producer resistance.