The average target price for the year is £26·60 per live cwt. The average target prices for the following periods will be:
|1976||£ per live cwt.|
|January to mid-February||27·55|
|Mid-February to mid-March||28·00|
From these figures a weekly scale of target prices will be derived, the range of which will be from £25 per live cwt. in the early autumn to £28 per live cwt. from mid-February 1977. The prices for the weeks beginning March 15 and 22 will be £26·30 per live cwt The remaining weekly target prices will be announced as soon as possible. On this basis the amount of variable premium due each week will be calculated. Payment of beef premium will however be subject to the general terms agreed by the Council of Ministers. These include a ceiling on the amount of premium payable in any week of £2·88 per live cwt. for the United Kingdom as a whole.