Slump hasn’t ended yet

POOR demand for beef after Easter trade has led to a further weakening in prices at the factories this week.

It looked like the spring trade had bottomed out and prices were set to hold or slightly strengthen for the last of the housed cattle; instead processors have knocked another 3 cents/kg (1p/lb) off their quotes, the second consecutive week of price cuts.

Processors blame export markets weakness, and some of them have cut their already short working week to just two days.