Beef prices continue to decline
In general, prices have been cut by a further 3c/kg (1p/lb) across the board. The factories maintained their silence on quoting for cattle - the supply of which exceeded demand at the factories yesterday - which acted to diffuse any resistance by producers to accept the lower prices being offered by the processors. Most reported they were booked up for this week at least - supply aided by the heavy weekend rain - and were not quoting for that reason.
Most factories were buying cattle yesterday at 255c-243c/kg (91p/87p/lb) for R/O grades as they moved closer to their target of buying R grade cattle at 90p/lb and paying 85p-86p/lb for O grade animals.
