Demand for cattle driving prices

STRONG demand for cattle at the factories is continuing the upward trend in prices for all stock, with further improvements in the quoted prices and in particular in prices being paid to secure cattle.

The pressure on the processors to get sufficient cattle to supply requirements has intensified this week and factory agents are reported to be “searching the bushes” for cattle in some areas and “paying what it takes to get stock” as a result.

Quoted prices have lifted by around 3 cents/kg (1p/lb) for steers and heifers. A base price range of 382-392 cents/kg is being quoted for the steers, but very few, if any, stock are moving for less than a base of 390 cents/kg (139p/lb) and an increasing number of producers are reporting deals at 400 cents/kg as a base of the steers this week, and some claiming to have already achieved prices north of the new milestone.