Supply reduction adds 5-8 c/kg to beef cattle prices

Further tightening in the supply of finished cattle available for beef factories is adding pressure on processors to increase prices this week.

The slippage in intake at plants, to around 26,700 head per week, has hardened cattle prices by a further 5-8 cents/kg over the past week, as factory agents are forced to compete harder for supplies.

The general base price for steers has increased to at least 420 cents/kg, with up to 425 cents/kg generally being paid.