Beef market report: Only cow prices are holding up

Downward pressure on beef prices at factories continued this week, as processors took advantage of the supply remaining strong.

The base price on offer at most of the factories for the steers this week is reduced to 370 cents/kg, with a price squeeze which was evident in the western half of the country last week now being extended across the country.

It is more difficult this week to get any top-up on quoted price, with processors digging their heels in, and finding it easy to get sufficient cattle to meet their requirements.