Sharp drop in factory beef prices

Beef prices dropped sharply at the factories last week, shaving the largest single- week cut in returns to producers for the Autumn season to date.

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.