Finishers fight for cattle price hike

Beef finishers are playing hardball with factory buyers this week as they push for a significant hike in cattle prices following the EU Commission's decision to restrict Brazilian beef imports.

Factories have battled to keep a lid on quotes but buyers for the processing plants admitted that they were struggling to source supplies and were forced to pay more for stock.

Some commentators had suggested that an immediate bounce in cattle prices was unlikely. However, farmers' bargaining position has been strengthened and they are making the most of their advantage.

A factory spokesman maintained it was too early to predict where prices would go as a result of the commission's move. "They certainly won't be back though," he admitted.

Yesterday, factory agents were anxious to get their hands on cattle. U grades were making 328-338c/kg, Rs were being quoted at 325-33c/kg and Os were making up to 325c.kg.

The exclusion of Brazilian beef from the European market is certain to have a serious impact. Brazil accounts for two thirds of EU beef imports, with the South American state supplying around 270,000 tonnes annually.