Farmers resist downward price trend

BEEF processors have been trying to take some of the heat out of the trade this week by offering cattle farmers 3 to 6 cents/kg (1 or 2p/lb) less for stock.

Although processors say supplies of cattle have increased — which could strengthen their hand to reverse the upward price trend — official intake figures for last week showed no more than a marginal rise of 500 head, not enough to make any worthwhile difference.

While farmers have been trying to resist any downward run on prices, it has become a lot harder this week for them to secure the prices paid over the past month, with processors indicating that supply is flowing freely enough to meet their market demands.