Reduced supply swings market control to farmers

Official quotes have been reduced as much as 5 cent/kg (2p/lb) again this week at a number of factories, but the flow of cattle has tightened.

It’s hard to tell who’s winning and who’s losing in the ongoing market battle.

Base prices for steers are quoted at 390 to 400 cent/kg (139p-143p/lb) for this week. Most are being bought at 395 to 400 cent/kg. Heifer prices — both quoted and actually paid — are generally 5-10 cent/kg higher than for steers. Some farmers report selling very good quality steers for a shade over the general run of prices, but the scope to get a top-up for heifers appears to have tightened.