Exports spark surge in beef prices

Marts: While the intake of bullocks at the factories has increased to its highest in four years for the corresponding week, export demand for beef pressured processors to get more cattle, resulting in a further surge in prices.

Average prices for cattle increased by a further 2p-3p/lb last week with the benchmark 100p/lb being breached for R grade bullocks for the first time since mid-summer.

Jennings of Ballinrobe paid an average of just over 100p/lb for R4L bullocks for last week’s kill. This was 6p/lb above the national average and 5p/lb higher than their nearest rival. In contrast some southern factories paid averages of 1p-2p/lb under the national average for similar grade cattle at prices back to 92p/lb.