Beef market report: Last week’s under-30,000 kill a significant indicator

Beef prices remained stable at factories this week, but the underlying supply trend is fuelling cattle farmer confidence that any price movement in the coming weeks will be in a positive direction for them.

After two short working weeks, around the Easter holidays, the trade returned to normal operations last week, but the intake of stock remained below the 30,000 head benchmark, which is a significant indicator that the supply overhang is disappearing.

There is no change in the quoted base price range for steers at factories, which continues to stand at 415-420 cents/kg.