Beef market report: Price cuts take beef finishers by surprise

Beef prices came under pressure at the factories this week in some regions of the country, as processors reduced quotes for both steers and heifers.

There are no certainties in the beef trade — and a reduction in factory prices in early May is not what cattle farmers had expected, after beef cattle supplies fell in recent weeks.

Farmers were entitled to expect the supply trend would strengthen their bargaining power — but that has been turned on its head.