Bullocks fetch 100p/lb at factories

Marts: Bullock prices averaged over 100p/lb for R3s at the factories last week, the first time in years for the benchmark price to be paid to producers countrywide, as returns to beef farmers continue to edge upwards with half the processors paying over 101p/lb average.

Scarce supplies and a hard sell by producers is maintaining the upward trend, which has turned out a record year for finishers. Processors who tried to hold prices at under 100p/lb for R grade have failed in their bid to control the upward price spiral, which will be stalled only by a considerable increase in supplies of cattle off the grass.

The national average for R3 bullocks and heifers across all factories for last week was 100.5p/lb and 100.7p/lb, respectively, according to the factory farmer pay sheet returns, showing an average increase of up to 1p/lb over the previous week, while up to 2p/lb of an increase was recorded in some categories of O grade. The average paid by AIBP Group for R3 bullocks exceeded 100p/lb for the first time this season following an average increase of 1p/lb. Factories at Clones, Cahir and Nenagh paid over 100p/lb average with prices averaging just under 100p/lb average for R3 bullocks at Waterford, Bandon and Rathkeale.