Price recovery may be closer
All plants maintained their quoted prices for this week at last week’s level, and there were some early indications of readiness to pay a little over the quotes, in order to get in cattle — although the “we don’t need cattle” gospel was being spread by some factory agents. There is still a little time left in the Christmas kill, and supplies are continuing to tighten, which should benefit sellers, if processors come under pressure to get sufficient cattle.
Most of the southern based factories were trying to buy R and O cattle at 308 to 296 cents/kg (110p to 106p/lb) for under-age cattle, with a penalty of 6 cents/kg (2p/lb) on the over-age animals.
