Factory Quotes: Beef Prices Rise in Final Week of 2024
Beef Prices Surge as 2024 Draws to a Close
Record-High Prices Expected to Continue into New Year
As the final full week of beef processing for 2024 gets underway,factory quotes are showing a continued upward trend,signaling a strong finish to the year for cattle farmers.
Most processing plants have five full days of operation scheduled this week, with some extending their kill schedules into the following weeks. This comes despite concerns about potential shortages of finished cattle in the coming months.
“Kill numbers have remained steady, with between 39,000 and 40,000 cattle slaughtered each week for the past four weeks,” industry sources report.
Prime Cattle Prices Reach New Heights
Prime cattle prices have been steadily climbing as mid-October, reaching record highs. This week, steers (bullocks) are being quoted at $5.50/kg on the grid, while heifers are fetching $5.55/kg.
“Most outlets have their kill sheets filled from now until the year end with pre-booked cattle,” industry insiders note.
The strong beef trade has encouraged farmers to bring cattle to market earlier than usual, leading to some concerns about supplies for the frist quarter of 2025. However, current market indications suggest that the firm beef trade will likely continue into the opening weeks of the new year.
Cow Prices Show Significant Variation
cow prices are also showing strength, with significant variation depending on grade and carcass weight.U grade cows are commanding up to $5.50/kg, while R grade cows are quoted at $5.30/kg. O grade cows are generally being offered $4.85/kg, with a range of $4.80-$5.20/kg, and P grade cows are quoted at $4.75/kg, with a range of $4.70-$5.00/kg.
Bull Prices Remain Strong
Under-24-month bulls are fetching $5.70-$5.80/kg for U grades, with $5.60-$5.70/kg offered for R grade bulls. O grade bulls are quoted at $5.60/kg, and P grade bulls at $5.50/kg.
As with cows,there is considerable variation in bull prices,with regular suppliers frequently enough securing higher rates. Under-16-month bulls are generally quoted at $5.50/kg on the grid.
beef Prices Surge as 2024 Draws to a close: Record-High Prices Expected to Continue into New Year
[Photo of cattle being processed]
With the final week of beef processing for 2024 underway, factory quotes are continuing their upward trend, signaling a strong finish to the year for cattle farmers. Most processing plants have five full days of operation scheduled this week, with some extending their kill schedules into the following weeks.
This comes despite concerns about potential shortages of finished cattle in the coming months. ”Kill numbers have remained steady, with between 39,000 and 40,000 cattle slaughtered each week for the past four weeks,” industry sources report.
Prime Cattle Prices Reach New Heights
Prime cattle prices have been steadily climbing as mid-October, reaching record highs. This week, steers are being quoted at $5.50/kg on the grid, while heifers are fetching $5.55/kg. “Most outlets have their kill sheets filled from now until the year end with pre-booked cattle,” industry insiders note.
The strong beef trade has encouraged farmers to bring cattle to market earlier than usual, leading to some concerns about supplies for the first quarter of 2025. However, current market indications suggest that the firm beef trade will likely continue into the opening weeks of the new year.
Cow Prices Show Important Variation
Cow prices are also showing strength, with significant variation depending on grade and carcass weight.
U grade cows are commanding up to $5.50/kg, while R grade cows are quoted at $5.30/kg. O grade cows are generally being offered $4.85/kg, with a range of $4.80-$5.20/kg, and P grade cows are quoted at $4.75/kg, with a range of $4.70-$5.00/kg.
Bull Prices Remain Strong
Under-24-month bulls are fetching $5.70-$5.80/kg for U grades, with $5.60-$5.70/kg offered for R grade bulls. O grade bulls are quoted at $5.60/kg, and P grade bulls at $5.50/kg.
As with cows, ther is considerable variation in bull prices, with regular suppliers frequently enough securing higher rates. Under-16-month bulls are generally quoted at $5.50/kg on the grid.
[Quote from a cattle farmer or industry expert]
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