Finishers factoring in expected demand for beef for the Euros and Olympics

While the processors blame weakening demand for beef on the export markets, producers are suspicious that it may be a ploy by the processors to flush out remaining supplies of yard cattle.

There is a cooler tone to the beef prices at the factories this week as operations resume after the May holiday weekend.

A majority of the factories appear to be in unison on reducing the base prices for both steers and heifers by 5 cents/kg for this week with quotes of 510 cents/kg for steers and 515 cents/kg offered for supplies.