Beef price increases slow down

Marts: The rate of increase in beef prices at the factories slowed down over the past week, as supplies increased, and the processors tightened on the returns paid to producers.

Prices for R3 bullocks averaged 95p/lb an increase of just 1 cent/kg (0.3p/lb) while heifer prices remained stable. There were some exceptions to the overall trend and 1p-3p/lb more was paid for cattle by some of the factories, with a top price of 98.5p/lb being paid for R3 grade bullocks. Cull cow prices continued very strong with a top price of almost 84p/lb being paid for good cows.

An increase of 2,200 head in the supply of bullocks to the factories could have been enough to relieve some of the pressure on the processors and reduce the necessity to pay higher prices to get enough stock to fill the orders.