First signs of pick up in EU market demand for beef
After abnormal rain left very bad ground conditions on many farms, and the cattle supply to factories increased, it was inevitable processors would move to cut prices.
Not all processors followed through with price cuts, but most offered 3 to 6 cents/kg (1p or 2p/lb) less for cattle this week, and some cut prices 3 cents/kg (1p/lb) while advising farmers that another downwards re-adjustment was likely before the weekend. Most cattle farmers appear to have responded with a “what we have we hold” approach.
