Low beef price not deterring sellers

THERE is optimism that beef prices may be about to stabilise after almost two months of price turmoil, during which profits were wiped out for most cattle farmers.

Quoted prices at the factories breached the 90p/lb or 252 cents/kg mark for R grade animals on Monday, after processors reduced prices by a further 6 cents/kg (2p/lb), offering 246 cents/kg (88p/lb) as the general rate throughout the country.

Prices for O grade animals were being quoted at 235 cents/kg (84p/lb), with some factories taking a further 3 cents/kg off to bring the price back to 232 cents/kg (83p/lb).