Early arrival of beef off grass brings price cut

The supply of cattle to beef factories is increasing and prices have come under pressure this week, somewhat earlier in the season than had been expected.

The intake last week topped 30,400 head for the first time in more than two months, boosted with early supplies coming off grass, and processors responded by tightening their rein on prices quoted, with cuts of 5 cents/kg for both steers and heifers for this week.

Last week’s cut of 10 cents/kg in cow prices paved the way for the follow-up this week in prime beef prices.