Prices were reduced by 3c/kg (1p/lb) across the country for all grades yesterday.

Prices are weakest in the south with some of the processors offering 283-269c/kg (101p-96p/lb) for R/O grades, but most of the plants in the south and east quoting 286-271c/kg (102p-97p/lb).

In the Midlands, there is at least a further 3c/kg (1p/lb) on offer for both grades and up to 292-274c/kg (104p-98p/lb) available for quality R/O animals.

Some deals at prices above these rates are being negotiated in direct deals with the factories for quality cattle, but higher prices are for the few rather than the majority and will require a hard sell by producers to secure.

While the supply of finished cattle is continuing to increase gradually, the processors are showing less interest in cattle this week. Producers who are angrily accusing the processors of engaging in a ploy to bring prices down further by weakening the confidence of suppliers are being invited to inspect the huge stocks of forequarter beef in the cold stores at the factories, which is unusual for early July.

However, reports from the European markets are offering a glimmer of hope with the markets indicating a slight improvement in recent days.

Prices in Britain have stabilised at the equivalent of 306c/kg for R4L bullocks. France reports demand is sluggish in relatively poor weather conditions.

Source: Irish Examiner