Processors cut prices and adopt QPS-only policy

BEEF processors are in a happier position than they have been for some weeks, with the supply-demand trend swinging back on their side, at the expense of farmers.

The supply of cattle has further strengthened, bookings forward are reported to be strong, processors have increased the percentage of cattle being purchased on the QPS grid, and prices have been reduced.

The difference between prices in Ireland and Britain has widened further, with processors now buying Irish cattle for €150 per head less than the cost of a similar weight and grade steer in Britain.