Beef prices under pressure

BEEF prices came under pressure at the factories this week as the increase in supply eased the demand for cattle and the processors reverted to profit-taking.

All factories have reduced prices for both steers and heifers by between 3c/kg and 6c/kg reducing the returns by up to €20/head for producers – because they increased the supply of cattle over the past two weeks.

The price trend has become almost as predictable as weather in so far as dark clouds overhead signal the onset of a downpour, increasing the weekly supply of cattle above 30,000 head is a sure sign that prices will come under pressure.