Price plunge into serious losses

IT IS many decades since beef cattle prices in March have plunged like they did this week.

Continuing strong supplies of cattle and a slump in export demand left rapidly increasing stocks of beef in cold stores at the factories, and processors reacted by implementing price cuts across the board for cattle this week.

Winter beef finishers, already having a very costly season due to high feed and store cattle prices, have been plunged into serious losses as their peak selling season approaches.