Beef market report: Processors paying 5-10c more than official quotes

Although the quoted prices for cattle at the factories show very little change this week, the underlying situation appears to confirm that prices for stock are continuing to gradually increase.

Across the processors, the base for steers is being quoted over a wider range than usual, at 385-395 cents/kg, which is broadly in line with the recent weeks.

However, the supply over the past week was stable, at best, and at a lower level than it has been for several of the prior weeks, leaving processors still very anxious to get hold of stock.