Beef prices take another leap

MARTS: Beef prices advanced by another leap at the factories as the processors tried to source scarce supplies of cattle to fill the early pre-Christmas orders yesterday.

Quoted prices were improved by up to 8 cents/kg (3p/lb), one of the largest weekly increases for the year, which reflects the pressure the factories are under to get sufficient cattle at one of the most crucial marketing periods of the year for the industry as the exporters supply the Christmas orders.

In general the factories quoted 266 cents/kg (95p/lb) for R grade animals yesterday - an increase of 6 cents/kg (2p/lb) - but most of the cattle going into the factories this week are costing 269-272 cents/kg (96p-97p/lb) for R grade animals across the southern half of the country and more in the north-west where they have edged a bit closer to 280 cents/kg (100p/lb) for quality stock. Quoted prices for O grade are 257-260 cents/kg (92p-93p/lb), an increase of up to 8 cents/kg (3p/lb), but the producers are seriously bargaining with the factories for flat prices for good mixes of R/O cattle.