Price slips as supply of cattle reaches 34,600

The strong supply of cattle to the factories is undermining returns to farmers, as prices come under increasing pressure.

More processors quote the base price for steers back to 375 cents/kg this week.

While most of the cattle going through the factories for the early days of this week would have been booked last week at the prices prevailing then, intake for the second half of the week looks set to be priced back by 3-5 cents/kg, as more agents stick to the lower base price.