Beef price may have bottomed ahead of peak kill

As beef prices steadied at factories for this week, there was cautious optimism among farmers that the downward trend of recent weeks may have bottomed out in time for the busiest season of the year.

Supporting their belief is the omen of stable prices are on the back of a year-high kill at the processing plants last week, and the knowledge that overall supplies of finished cattle are the lowest for a decade.

Some processors continue to quote base prices for steers back to 375 cent/kg (134p/lb), but very few farmers are selling stock for less than 380 cent/kg, and some are securing deals for up to 385 cent/kg, while rare deals are being reported for the best cattle at 395 cent/kg.