Same prices paid for O grade cattle

The psychological barrier of 90p/lb for O grade cattle is continuing for producers supplying the factories as a base price, which has steadied the trade for the second consecutive week.

There was uniformity among most factories yesterday on offering 90p/lb for O grade animals, largely similar to last week, and there is more than a hint circulating the industry that no one processor wants to be the first to take the daring step of breaching the 90p/lb barrier for the O grade stock - at least for the present.

It is a reasonable bet that this barrier is unlikely to be breached before the end of the month.

However, the threat will intensify as supplies further increase from the beginning of September and the odds on holding the price will shorten as the month changes.

Yesterday they were all singing off the same price sheet in the south, east and midlands for O grade animals offering 90p/lb. Exel Meats at Kilbeggan and Newgrange Meats at Navan dropped the price for R grade animals by 3 cent/kg (1p/lb) to 94p/lb, falling into line with the quotes across the south, and east to Slaney Meats at Bunclody.

Dawn Meats at Midleton were not quoting for cattle yesterday, reporting heavy booking by mid-morning, and the understanding is that most of these animals were bought at 94p-90p/lb for R/O grades similar to other factories.

Slaney Meats were offering 99p/lb yesterday for U grade animals, but they had slipped back to 96p/lb at Exel Meats and Newgrange Meats.

Supplies were not quite as strong in other parts of the province and the midlands, but neither was there any shortage and cattle are continuing to move out at a steady rate.

The cow trade is also remaining steady ranging 190 cent/kg (68p/lb) to 207 cent/kg (74p/lb).