Price cut as buyers’ market continues
Last week, the supply of cattle continued high for the third consecutive week, which left processors in a buyers’ market, strongly positioned to put downward pressure on cattle prices.
As a result, the factories which had not brought R grade prices below 280c/kg last week have now gone ahead with quotes of 274c/kg (98p/lb) for R grade steers and for heifers aged over 24 months. They dropped O grade quotes to 260c/kg. It has proven difficult for farmers to negotiate deals for more than these quotes.
