Quoted prices for steers and heifers cut 5-8 cent

Beef prices have come under further pressure at factories this week, in a continuation of the downward slide in returns to farmers.

Quoted prices for steers and heifers have been reduced by 5-8 cent/kg, and factory agents are adopting a tougher approach to conceding top-ups on quoted prices.

Farm conditions, due to continued heavy rainfall, are helping processors, as pressure increases on finishers to ease stocking levels and to reduce poaching, by disposing of the heavier cattle. They also have to conserve scarce winter feed supplies.