Beef prices showing further gains

BEEF prices are making further gains at the factories after a downturn in the supply undermined the attempt by the processors to reduce prices paid to producers who rallied against the challenge by holding back supplies.

For the beef processors the reduction in officially quoted prices over the past fortnight — which never clicked into the actual prices being paid — has turned into an own goal by the factories, having further to up prices to get cattle moving again.

The processors were under pressure yesterday to source supplies of stock after the intake dropped for the second consecutive week and resistance from producers added to the pressure on the factories to increase prices to get stock to supply orders.