Beef marts report: Beef price hardens as the supply to factories slows

The supply of cattle to the factories has commenced to tighten over the past week, and prices are showing signs of a hardening in the trade for this week.

Intake at the plants slipped below 34,000 head last week, ending consecutive weeks of upward supply, and early indications are that returns will deliver up to 5 cents/kg of an improvement for supplies this week.

The factories are, in general, offering 380 cents/kg as a base for the steers.