Butchers expect beef price rise

Press, 25 July 1984, Page 1

Butchers expect beef price rise

Retail prices for beef are expected to rise 5 to 10 per cent next week because of the devaluation of the New Zealand dollar. According to a spokesman for a big Christchurch butchery, cheaper cuts of beef, such as mince now selling at $4 a kilogram, could rise to $4.20; similarly good steak worth $8 could increase about 40c. Some shops would probably have an average in-

crease of 30c a kilogram on all cuts of beef. The increases are a result of the high prices realised for prime cattle at the Addington market yesterday. Cattle prices rose by $6O to $BO a head, reflecting an increase in the export schedule paid to farmers caused by the devaluation. Some butchers have indicated that they would prefer to pass on the increases to the consumer gently over

several weeks rather than in one jump. The export beef schedule rose this week on average 50c a kilogram. The increase on the local auction price was not as great because for the last few months the local price has been higher than the previous export schedule, particularly for medium and lightweight cattle. Farmers received 210 c to 225 c a kilogram for most cattle at Addington yesterday, compared with 200 c to 210 c last week.

Beef prices have also risen in other parts of New Zealand — at Invercargill, beef yesterday was quoted at 210 c to 220 c, with some cattle fetching 240 c.