Beef market report: Sharp price cut ends strong summer beef trade

Beef prices have been sharply cut at the factories this week, bringing to an end one of the strongest ever summer trading period for cattle farmers.

Quoted base prices for all categories of steers, heifers, and cows have been reduced by at least 20 cents/kg, and negotiations to secure deals for more than the ‘offered’ prices for stock have become much tougher.

Steers are being generally quoted at a base of 415 cents/kg, and the base for heifers is at 10 cents/kg higher than steers, with 425 cents/kg the going rate.