Cattle marts: Record level of spring beef supply hits prices

The pressure on beef prices at the factories has continued to erode returns for farmers this week, with the intake at remaining very strong, setting a new February record.

Processors easing back the quoted prices for both steers and heifers as much as 5 cents/kg is mounting pressure on beef farm profitability, approaching the normal peak of spring finishing, with returns being undermined by the very strong year-to-date supply.

Base prices offered for steers slipped to 370 cents/kg at a number of plants this week, while a base of 375 cents/kg was still available at others for the opening days of trading this week, at least.