Sharp drop in factory beef prices
Average prices paid by the top-paying processors were down by 7-10 cents/ kg (3p-4p/lb) on the previous week with reductions in prices paid for all grades of animals across all factories seeing a sharp drop in take-home returns by producers.
R3 grade heifers prices resisted the drop with least effect keeping an average of 2p/lb over R3 bullocks, but a 7p/lb difference emerged between R and O grade heifers.
A difference of up to 10p/lb has opened up between the best and worst-paying factories for similar grade cattle.
However, some allowance must be made for premium-priced animals under 12 months beef and contract- produced animals in the returns from the top paying processors.
The factories paid an average of 82.4p/lb for R3 bullocks with individual factory averages ranging from 86.3p/lb to 80.4p/lb.
Carrigans of Donegal were the leaders on price, followed by Kepak at Watergrasshill, AIBP, Waterford, Slaney Meats, Meadow Meats and Liffey Meats.
Average prices paid at factories in the three major processing groups, AIBP, Dawn and Kepak were all lower than the previous week by between 1p/lb and 2p/lb.
The average paid for R3 heifers was 84p/lb. The highest factory average was 89p/lb at Liffey Meats.
The average for O3 heifers dropped to 77p/lb.
The average for cows was weaker by up to 3p/lb. Meadow Meats paying the highest average at 67p/lb for R5 grade and Fair Oak at Clonmel were highest on O and P grades paying an average of 66p/lb and 64p/lb respectively.
